Annual Reports
How did Malaysia perform in trade throughout the challenging year of 2021? Which markets reigned supreme and what sectors were the key export contributors for Malaysia? What are MATRADE’s initiatives in 2021 to Malaysian companies during country’s recovery phase? These are some of the questions answered in MATRADE’s Annual Report for year 2021. Read more to gain the insights.
MATRADE undertook various efforts to achieve its founding objectives which encompass exporters development and export promotions. These efforts involve exporter capacity building programmes, dissemination of trade information and the provision of advisory and support services.
During the country’s recovery phase, MATRADE continued its initiatives by leveraging on digital technology and platforms to ensure the continuity of the country’s exports. Existing programmes were adapted to the practice of new norms in overcoming the constraints of travel restrictions and nationwide border closures. These efforts enabled MATRADE to fulfil its mandate of driving exports and making Malaysia a competitive trade nation on the global stage.
2021 saw the recovery of global trade after the global supply chain disruption and economic uncertainly brought on by the COVID-19 pandemic. Malaysia saw all-time highs in trade, surpassing the RM2 trillion mark for the first time, and recording the fastest growth since 1994. Trade registered a double-digit growth of 24.9% from 2020 to RM2.228 trillion, after two consecutive years of decline.
Exports grew 26.1% to RM1.241 trillion, hitting 99% of the Twelfth Malaysia Plan 2021-2015 (12MP) projection for 2025, four (4) years ahead of target. Imports rose 23.3% to RM987.24 billion. Trade surplus increased to 38.4% to RM253.68 billion sustaining the trade surplus for 24 consecutive years since 1998. Trade, export, import and trade surplus recorded all-time highs.
China, Singapore, the United States (US), Japan and Taiwan were Malaysia’s top five
trading partners in 2021. Collectively, these five markets accounted for 52.6% or RM1.172 trillion of Malaysia’s total trade. China was Malaysia’s largest export market,
followed by Singapore, the US, Hong Kong SAR and Japan. These five markets accounted for 53.3% or RM661.21 billion of nation’s total exports.
Significant export expansion was also registered for emerging markets such as Costa Rica, Kenya, Egypt, Nigeria, Ghana and Iraq.
MATRADE possesses a database of over 26,000 export-oriented companies in Malaysia. These companies are assisted in ensuring sustainable export growth of Malaysian products and services. In 2021, MATRADE’s exporter capacity-building programme benefitted 23,885 companies, while the export promotion programmes involved 2,253 companies.
MATRADE continued to offer new strategic directions to companies in Malaysia by emphasising the use of digital technology and sustainability initiatives to ensure long-term growth. Moving forward, MATRADE remains committed in strengthening the country’s economy in its role as the leading organisation in steering and advancing the country’s export activities.
