The Minister of International Trade and Industry (MITI), YB Dato’ Sri Mustapa Mohamed announced that after a 16.5% decline in total trade registered in 2009, Malaysia’s trade rebounded in 2010 by registering 18.3% growth. The impressive growth was attributed to the global economic recovery which boosted demand for both manufactured goods and commodities.

Total trade in 2010 breached the RM1 trillion mark to register a value of RM1.169 trillion, almost reaching the pre-crisis level of RM1.183 trillion registered in 2008. Exports expanded by 15.6% to RM639.43 billion while imports grew by 21.7% to RM529.19 billion with a trade surplus of RM110.23 billion.

The growth in exports was supported by MITI and its agencies through extensive promotion and outreach programmes which aimed at encouraging the private sector to take advantage of the opportunities presented by the recovery of the global economy. The programmes and activities introduced included capacity building programmes, certification and compliance to standards, adoption of best practices, export promotion and utilisation of preferential schemes. The utilisation of preferential schemes under the FTAs also contributed to the growth in Malaysia’s exports.

To ensure Malaysian companies benefited from the global economic recovery in 2010, MATRADE as the national trade promotion agency undertook over 200 programmes in the areas of Exporters Development and Export Promotion. Participation in overseas promotion activities focused on retaining share in traditional markets, expanding into the fast growing markets of the BRIC countries, as well as diversifying into emerging markets of West Asia, Central Asia and Africa.

Focus was also given to international brand building efforts to differentiate Malaysian products and services in highly competitive markets through 3 major branding exercises, which were participation in I-Saloni, a leading furniture trade fair in Italy, Malaysia International Halal Showcase (MIHAS) for the promotion of Halal industry and Malaysia Services Exhibition (MSE) for the branding of services sector.

EXPORT PERFORMANCE 2010

Malaysia’s exports to almost all markets recorded positive growth. Significant increases in exports were seen to Egypt (58.1%), New Zealand (57.4%), Philippines (43.7%), Bangladesh (43.2%), South Africa (40.7%), Taiwan (39.9%), Vietnam (39.7%), India (23.3%) and Japan (21.8%). This was contributed by higher exports of electrical and electronic (E&E) products, chemicals and chemical products, manufactures of metal, crude petroleum, palm oil, processed food, as well as refined petroleum products.

Singapore, the People’s Republic of China (PRC), Japan, the United States of America (USA) and Thailand remained the top five export destinations in 2010. Among these markets, exports to Japan valued at RM66.29 billion, registering the highest growth of 21.8%. The main increases in exports to Japan were contributed by E&E products as well as refined and crude petroleum.

In terms of value, exports to the PRC registered the largest increase of RM13.35 billion to RM80.60 billion or growth of 19.9%. This was largely contributed by exports of E&E products and palm oil. ASEAN continued to remain a major regional export destination with exports valued at RM162.45 billion, accounting for 25.4% of Malaysia’s total exports. Exports to all countries in ASEAN recorded growth except Brunei, which declined by 7.3%.

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 Malaysia's Trade Performance in 2010 (486.09 kB)