Malaysia External Trade Development Corporation

Trade, Exports and Imports Reached Highest Monthly Value

Malaysia’s trade continued its stellar performance in March 2022, registering an all-time record high for trade, exports and imports. Trade expanded by 27.3% to RM236.57 billion compared to March 2021, the 14^th consecutive month of double-digit growth. Exports grew by 25.4% to RM131.64 billion, the eighth successive month of double-digit year-on-year (y-o-y) expansion. Imports increased by 29.9% to RM104.93 billion and trade surplus rose by 10.3% to RM26.70 billion.

The export growth was contributed mainly by robust external demand for electrical and electronic (E&E) products and commodity-based products, namely palm oil and palm oil-based products, petroleum products, liquefied natural gas (LNG) as well as crude petroleum. E&E products soared to a record high in March 2022 due to stronger exports of electronic integrated circuits underpinned by growing digitalisation trends.

Exports to major markets notably ASEAN, China, the United States (US), the European Union (EU) and Japan recorded double-digit growth. Highest export monthly value was registered to ASEAN, EU and Japan.

On a month-on-month (m-o-m) basis, trade, exports, imports and trade surplus recorded double-digit growth of 28.1%, 28.7%, 27.3% and 34.8%, respectively.

Trade for the first quarter (Q1) of 2022 grew by 23.6% to RM624.86 billion, compared to Q1 2021. Exports increased by 22.2% to RM344.97 billion and imports expanded by 25.2% to RM279.89 billion. Trade surplus rose by 10.9% to RM65.08 billion. Trade, exports, imports and trade surplus registered the highest value for the period.

Compared to the fourth quarter (Q4) of 2021, trade and imports were up by 0.02% and 2.1% while exports and trade surplus declined by 1.6% and 14.6%, respectively.

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Trade Performance : March 2022 and January - March 2022
Trade Performance : March 2022 and January - March 2022 (Infographic)