Malaysia’s total trade surpasses RM2 trillion, fastest growth since 1994

KUALA LUMPUR: Malaysia’s total trade recorded a new achievement in 2021, surpassing RM2 trillion and recorded the fastest growth since 1994, the Department of Statistics Malaysia (DOSM) said.

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the value of Malaysia’s total trade recorded double-digit growth of 24.8 per cent to RM2.2 trillion in 2021 from RM1.8 trillion in 2020 after recording negative growth for two consecutive years.

He said all states recorded an increase in total trade dominated by Selangor (RM112.6 billion), Pulau Pinang (RM94.4 billion) and Johor (RM87.4 billion).

“Malaysia’s exports valued at RM1.24 trillion in 2021 weighed up 26 per cent as compared to RM983.8 billion in 2020,” he said in a statement today.

He said the increase in exports was due to the higher exports by all states namely Selangor (RM62.8 billion), Pulau Pinang (RM49.9 billion), Johor (RM47.9 billion), Sarawak (RM17.6 billion), Kedah (RM12.8 billion), Kuala Lumpur (RM12.1 billion), Perak (RM11.3 billion) and Sabah (RM10.4 billion).

Also recording higher exports were Pahang (RM10.3 billion), Terengganu (RM8.5 billion), Melaka (RM7.9 billion), Negeri Sembilan (RM3.1 billion), Labuan (RM1.0 billion), Perlis (RM177.2 million) and Kelantan (RM97.1 million).

Mohd Uzir said among the top five major exporting states, Pulau Pinang remained the top exporter with a share of 29.3 per cent, followed by Johor (20.6 per cent), Selangor (19 per cent), Sarawak (6.8 per cent) and Kuala Lumpur (3.5 per cent).

“The export expansion was underpinned by strong exports of electronic integrated circuits in Pulau Pinang.

“Meanwhile, higher exports recorded in Johor were contributed by refined petroleum products while rubber gloves were the main contributors to exports in Selangor,” he said.

He said liquefied natural gas (LNG) was the main contributor to exports in Sarawak.

Mohd Uzir said imports also recorded an increase of 23.3 per cent to RM987.2 billion in 2021 as against RM800.5 billion in the previous year and the increase in imports was due to higher imports from Selangor (RM49.8 billion), Pulau Pinang (RM44.5 billion) and Johor (RM39.5 billion) while the value of imports decreased in Sabah by RM8.7 billion and Labuan (RM908.4 million).

“Higher imports recorded in Selangor and Kuala Lumpur were contributed by other electrical and electronic products.

“In addition, electronic integrated circuits were the main contributors to imports in Pulau Pinang and Kedah,” he said.

He added that refined petroleum products were the main contributors to imports in Johor. — Bernama