MALAYSIA'S EXPORTS IN 2022 SURPASSED 12MP'S PROJECTION 3 YEARS AHEAD OF TARGET

KUALA LUMPUR, Jan 26 (Bernama) -- Malaysia maintained its outstanding performance in 2022 in terms of trade, exports, imports and trade surplus, with exports hitting the 12th Malaysia Plan’s (12MP) target three years earlier than forecast, the Malaysia External Trade Development Corporation (MATRADE) said.

Chief executive officer Datuk Mohd Mustafa Abdul Aziz said that despite the challenging global environment, Malaysia’s business community remained resilient following robust global demand and high commodity prices.

“I am glad to share that our exports also exceeded the projection of 12MP for 2025, three years ahead of the target. Imports, meanwhile, breached the RM1 trillion mark for the first time, reaching nearly RM1.3 trillion in 2022,” he said in a statement today.

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Mohd Mustafa said Malaysia exported a high-value and competitive range of products to over 200 international markets as a prominent global trading nation.

“This affirms Malaysia’s position as a reliable trading partner, accessing new and emerging markets through various trade agreements at the regional and bilateral levels. In 2022, Malaysia’s top 10 export destinations contributed 87.7 per cent share of total exports.

“Leveraging on the outstanding trade performance, MATRADE, as the national trade promotion agency, will strive further to nurture and grow more Malaysian entrepreneurs to venture into exports.

“MATRADE has been the main focal point in facilitating Malaysian exporters, ministries, agencies, chambers and associations by connecting them with foreign buyers,” he said.

Mohd Mustafa said the agency’s commitment to enhancing the nation’s exports would continue under three main export agendas, namely digitalisation, sustainability and the National Trade Blueprint.

MATRADE said it had devised several high-value export programmes for 2023 to support Malaysia’s exporting community, including industries like electrical and electronics, machinery and equipment, aerospace, food and beverages, medical and pharmaceuticals, building materials, oil and gas, as well as services such as information and communications technology and shipbuilding.

-- BERNAMA