Annual Report 2019

28 // MATRADE Annual Report 2019 In 2019, Malaysia’s trade surplus continued to register double-digit growth for three consecutive years, widening by 17.7% to RM145.66 billion compared to RM123.78 billion in 2018. This was the largest trade surplus ever recorded, representing Malaysia’s achievement of 22nd consecutive year of trade surplus. MALAYSIA’S TRADE PERFORMANCE 2019 In tandem with softer global demand amid trade tensions and unfavourable external economic conditions, total trade contracted by 2.1% to RM1.844 trillion. Exports decreased marginally by 0.8% to RM995.07 billion, from the preceding year while imports declined by 3.5% to RM849.41 billion. Lower trade was recorded with Singapore, Hong Kong SAR, France, Switzerland, Thailand and Japan. However, Malaysia’s trade grew with the United States (US), the United Arab Emirates (UAE), China, the Philippines, Venezuela, Viet Nam, Cambodia, Mexico and the United Kingdom (UK).