Trade Performance : December 2023 and January - December 2023
In 2023, global trade continued to expand at a slower pace, weighed down by several factors including lower commodity prices, geopolitical uncertainties, high inflation rate and downcycle in the semiconductor sector. Weak commodity prices continued to affect trade performance, notably for crude palm oil, crude petroleum and liquefied natural gas (LNG). Geopolitical uncertainties such as the United States (US)-China, Russia-Ukraine and Middle East conflicts also took a toll on the global economy and dampened demand for Malaysian products while high global inflation eroded consumer purchasing power in importing countries.
Despite the challenging global economic landscape, Malaysia’s trade last year exceeded RM2 trillion mark for three consecutive years and sustained its surplus trend for 26 successive years since 1998. Exports surpassed RM1 trillion for the third year in a row and achieved 82.4% of the target set for 2025 under the Mid-Term Review of the Twelfth Malaysia Plan (12MP). Meanwhile, imports posted another milestone by crossing RM1 trillion mark for the second time. The nation’s trade performance also realised the forecast published in the Economic Outlook 2024 by the Ministry of Finance (MOF) with trade, exports and imports achieving 100.1%, 99.7% and 100.5% of the projection, respectively.
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Trade Performance : December 2023 and January - December 2023
Trade Performance : December 2023 and January - December 2023 (Infographic)
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Prestasi Perdagangan : Disember 2023 dan Januari - Disember 2023
Prestasi Perdagangan : Disember 2023 dan Januari - Disember 2023 (Infografik)
