30 TOWARDS THE FUTURE OF SUSTAINABLE EXPORTS TOTAL TRADE RM771.83 billion 34% EXPORT RM452.83 billion 31.8% KEY EXPORTS IMPORTS RM319 billion 37.1% MARKET PERFORMANCE SUMMARY Trade with ASEAN countries increased 33.8% to RM770.78 billion from the previous year, the highest value to date. As Malaysia’s strategic trading partner, ASEAN accounted for 27.1% of Malaysia’s total trade in 2022. Among Malaysia’s top 20 trading partners, five were ASEAN countries: Singapore (second), Indonesia (sixth), Thailand (seventh), Vietnam (twelfth), and the Philippines (sixteenth). There was an increase in trade to all ASEAN markets of 31.8% to RM452.72 billion, contributing 29.2% to Malaysia’s total exports. Goods that saw increased exports to the region include E&E products, petroleum products, and crude petroleum. Meanwhile, the main export items were E&E products, with a share of 37%, petroleum products (17.6%), and chemicals & chemical products (7%). Imports from ASEAN grew 36.7% to RM318.05 billion. The primary imported goods were E&E, petroleum, and chemicals & chemical products . Singapore was the main export market, contributing 51.4% to the total exports to the region, followed by Thailand (14.5%), Indonesia (12.3%), Vietnam (11.8%), the Philippines (6.2%), Brunei (1.7%), Myanmar (1.3%), Cambodia (0.5%), and Lao PDR (0.2%). Exports to Singapore increased 33.6% to RM232.48 billion, driven by the main exports of E&E products (49.6%) petroleum products (16.3%), and machinery, equipment and parts (7%). Imports from Singapore increased 44.2% to RM135.04 billion, with the primary imported goods being petroleum products, E&E products, and chemicals & chemical products. KEY EXPORT MARKETS *denotes share of total regional exports E & E PRODUCTS PETROLEUM PRODUCTS CHEMICALS & CHEMICAL PRODUCTS ASEAN Philippines 6.2% Singapore 51.4%* Brunei 1.6% !ailand Indonesia Viet Nam 14.5% Myanmar 1.3% Lao PDR 0.2% 12.4% Cambodia 0.5% 11.8%
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