34 TOWARDS THE FUTURE OF SUSTAINABLE EXPORTS Trade with Free Trade Agreement (FTA) partners accounted for 67.3% of Malaysia’s total trade in 2022, reflecting an increase of 26.3% to RM1.914 trillion. In 2022, trade with the new/emerging markets of Egypt, Sri Lanka, Mozambique, Papua New Guinea, Togo, Djibouti, and Afghanistan showed a significant increase. Exports to FTA partners reached the highest recorded value of RM1.069 trillion, increasing by 25.7% and representing 69% of Malaysia’s total exports. The growth was attributed to an increase in the exports of E&E products, petroleum products, and LNG. The primary export items to FTA markets were E&E products at 37.4%, petroleum products (10.7%), and chemicals & chemical products (6.5%). Singapore, China, Japan, Hong Kong SAR, and Thailand were the primary FTA export destinations. Collectively, these markets accounted for 65.8% of total exports to FTA trading partners. Exports to Egypt grew 24.3% to RM3.57 billion, Djibouti (up 118.9% to RM1.65 billion), and Afghanistan (up 76.1% to RM1.57 billion), driven by strong exports of palm oil and palm oil-based agriculture products. TOTAL TRADE RM1.916 trillion 26.4% EXPORTS RM1,069 trillion 25.7% MAIN EXPORTS IMPORTS RM846.63 billion 27.2% E & E PRODUCTS PETROLEUM PRODUCTS LNG FTA MARKETS NEW/EMERGING EXPORT MARKETS FTA & NEW/EMERGING MARKETS Exports to Singapore grew 33.6% to RM232.48 billion, supported by an increase in the export of E&E products. This was followed by exports to Japan (up 30.1% to RM98.66 billion, driven by LNG), Hong Kong SAR (up 24.7% to RM95.67 billion, E&E products), China (up 9.4% to RM210.55 billion, E&E products) and Indonesia (up 42.3% to RM55.74 billion, petroleum products). Imports increased 27% to RM845.34 billion, contributing 65.3% to Malaysia’s total imports. E&E products, petroleum products, and chemicals & chemical products were the main imported goods from the FTA markets. Meanwhile, exports to Sri Lanka increased 14.1% to RM3.45 billion, Mozambique (up 32.6% to RM2.65 billion), Togo (up 69.6% to RM2.32 billion), and Papua New Guinea (up 58.9% to RM2.25 billion), supported by the increase in petroleum product exports. Egypt Afghanistan Mozambique Togo Djibouti Sri Lanka Papua New Guinea RM3.61 billion RM1.57 billion RM2.65 billion RM2.32 billion RM1.65 billion RM3.45 billion RM2.25 billion
RkJQdWJsaXNoZXIy NjUyODU0