35 Trade Performance Report MATRADE Annual Report 2022 In 2022, exports of manufactured goods increased 22.1% to RM1.305 trillion, comprising 84.2% of Malaysia’s total exports. E & E products held the largest share at 38.3% of total exports, increasing 30% to RM592.96 billion, attributed to the strong demand for semiconductors driven by the rise in global technological advancements and digitalisation of businesses. The main export markets for E&E products were Singapore (19.4%), the US(16.2%), and China (13.7%). Petroleum products were the secondlargest contributor to exports at 10.4%. The export of petroleum products surged 67.6% to RM161.21 billion. The main export markets for petroleum products were Singapore at 23.4%, Indonesia (15.9%), and Australia (9.6%). In 2022, the export of agricultural products recorded its highest value at RM120.9 billion, growing 23.3% from the previous year and contributing 7.8% to Malaysia’s total exports. The main export items for agricultural products were palm oil and palm oil-based agriculture products (6.2% share), natural rubber (0.3%), and sawn wood and timber (0.2%). The primary export market for palm oil and palm oil-based agriculture products was India, with a share of 16.4%, followed by China (10.2%) and the Netherlands (8.2%). The export of mining goods, comprising 7.6% of the country’s total exports in 2022, surged by 68.2% to RM117.35 billion compared to 2021. The primary export items for mining goods were LNG ( 4.4% share), crude petroleum (2.1%), and metalliferous ores and metal scrap (0.7%). Japan was the largest export market for LNG, at 44.9%, followed by China (26.5%) and the Republic of Korea (18.4%). EXPORTS RM1,307 trillion 22.3% MAIN EXPORT E & E PRODUCTS PERFORMANCE OF MAJOR SECTORS Meanwhile, the export of chemicals & chemical products was the third-largest contributor (5.2%), recording an increase of 14% to RM80.58 billion. The main export markets for chemicals & chemical products were China with a share of 23.8%, Thailand (10.6%), and Indonesia (9.6%). Other manufactured goods contributing to export growth were: • Machinery, equipment and parts (↑21% to RM60.41 billion) • Optical and scientific equipment (↑20.7% to RM56.63 billion) • Palm oil-based manufactured goods (↑26.5% to RM41.39 billion) • Iron and steel products (↑ 15% to RM33.83 billion) • Processed food (↑ 15.5% to RM28.41 billion) EXPORT OF MANUFACTURED GOODS EXPORT OF AGRICULTURAL PRODUCTS EXPORT OF MINING GOODS RM593.52 billion 38.3%
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