Annual Report 2019

Sustaining Export Development Trade Performance Report // 29 China, Singapore, the US, Japan and Thailand were Malaysia’s top five trading partners in 2019. Collectively, these five countries accounted for 50.9% or RM938.58 billion of Malaysia’s total trade. China was Malaysia’s largest export market, followed by Singapore, the US, Hong Kong SAR and Japan. These five countries accounted for 51.0% or RM507.17 billion of Malaysia’s total exports in 2019. Meanwhile, five main import sources were China, Singapore, the US, Japan and Taiwan, which collectively represented 53.5% or RM454.48 billion of total imports. • Recorded average monthly export value of RM82.92 billion; • Total trade maintained more than RM1 trillion for 10 consecutive years; • Largest trade surplus ever recorded (RM145.66 billion, ↑ 17.7%); • Second highest export value recorded, RM995.07 billion (the highest was in 2018: RM1.004 trillion); • China surpassed Singapore as Malaysia’s largest export market after being the second largest export market since 2012; MAJOR TRADE HIGHLIGHTS OF 2019: In 2019, exports of manufactured goods with a value of RM840.59 billion, accounted for a larger share of total exports at 84.5%, increased by 0.4%. Electrical & Electronic (E&E) products were the biggest contributor to manufactured exports, with a 37.5% share or RM373.12 billion, despite a decrease of 2.2%. Manufactured products that recorded significant export growth for 2019 were iron and steel products, optical and scientific equipment, processed food, non-metallic mineral products as well as paper and pulp products. • Exports grew more than RM1 billion to the US, Taiwan, India, China, the Philippines, Viet Nam and Cambodia; • E&E products remained as the largest export products, valued at RM373.12 billion or 37.5% share of Malaysia’s total exports; • Exports to the UK grew by 5.4% to RM9.11 billion despite prolonged Brexit uncertainty; and • Exports grew to the emerging markets such as Cambodia, Bangladesh, Qatar, Mexico, Sri Lanka, Kenya, Togo, Nigeria and Egypt. 51.0 % SHARE OF TOTAL EXPORTS 53.5 % SHARE OF TOTAL IMPORTS China 14.2% 6.7% 13.8% 6.6% 9.7% United States Singapore Hong Kong SAR Japan 20.7% 7.5% 10.5% 6.7% 8.1% China United States Singapore Japan Taiwan 50.9 % SHARE OF TOTAL TRADE China 17.2% United States 9.0% Singapore 12.3% Japan 7.0% Thailand 5.5% MALAYSIA’S TRADE PERFORMANCE 2019