Malaysia External Trade Development Corporation

Year 2021 witnessed a robust world trade performance which rebounded from the impact of COVID-19 pandemic albeit disruptions in global supply chain and other uncertainties. Despite the challenges faced, Malaysian business community remained resilient following strong global demand which led to resurgence in trade activities.

Malaysia’s external trade in 2021 improved, registering historic performance with trade, exports, imports and trade surplus reaching an all-time high. Trade posted another milestone, surpassing RM2 trillion for the first time and recorded the fastest growth since 1994. Exports valued at RM1.24 trillion, achieving 99% of the Twelfth Malaysia Plan 2021-2025 (Twelfth Plan) export projection for 2025, four years ahead of the target. Trade surplus was posted for 24 consecutive years since 1998. These remarkable achievements were driven by robust external demand and higher commodity prices.

Exports to major trading partners namely ASEAN, China, the United States (US) and the European Union (EU) recorded new high with strong double-digit expansion. Meanwhile, exports to Japan recovered with a double-digit growth after declining for three consecutive years. Significant export expansion was also registered to emerging markets such as Costa Rica, Kenya, Egypt, Nigeria, Ghana and Iraq. Exports to Free Trade Agreement (FTA) partners showed an upward trajectory with a new high value after two consecutive years of contraction.

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Trade Performance : December 2021 and January - December 2021

Trade Performance : December 2021 and January - December 2021 (Infographic)

Trade at New Monthly High

Malaysia’s trade continued its stellar performance and maintained upward trajectory in November 2021. Trade registered an expansion of 34.9% to RM205.5 billion compared to November 2020, breaching RM200 billion mark for the second time in a row and was the 10^th consecutive month of double-digit growth since February 2021. Exports rose by 32.4% to RM112.2 billion, the 15^th consecutive month of year-on-year (y-o-y) expansion since September 2020. Imports was higher by 38% to RM93.3 billion and trade surplus increased by 10.5% to RM18.9 billion. Trade and imports recorded highest monthly value.

The export expansion was underpinned by strong exports of electrical and electronic (E&E) products, petroleum products as well as palm oil and palm oil-based agriculture products. Meanwhile, exports to major markets notably ASEAN, China, the United States (US), the European Union (EU) and Japan recorded double-digit growth. Exports to ASEAN and the US registered an all-time high monthly value.

On a month-on-month (m-o-m) basis, trade and imports grew by 1.5% and 5.9%, while exports and trade surplus contracted by 1.9% and 28.1%, respectively.

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Trade Performance : November 2021 and January - November 2021

Trade Performance : November 2021 and January - November 2021 (Infographic)

Trade, Exports, Imports and Trade Surplus Soared to Another All-Time High

Malaysia’s trade continued its remarkable achievement in October 2021, registering another round of record high monthly value for trade, exports, imports and trade surplus. Trade expanded by 26.5% to RM202.61 billion compared to October 2020, breaching RM200 billion mark for the first time and was the ninth consecutive month of double-digit growth since February 2021. Exports rose by 25.5% to RM114.43 billion, the 14th consecutive month of year-on-year (y-o-y) expansion since September 2020. Imports was higher by 27.9% to RM88.18 billion and trade surplus increased by 17.9% to RM26.25 billion.

The export growth was boosted mainly by higher shipments of petroleum products, manufactures of metal, electrical and electronic (E&E) products, chemicals and chemical products as well as palm oil and palm oil-based agriculture products. Exports of manufactures of metal and E&E products registered the highest monthly value thus far. Meanwhile, exports to major markets notably ASEAN, China, the United States (US), the European Union (EU) and Japan recorded double-digit growth. Exports to ASEAN registered the highest monthly value.

On a month-on-month (m-o-m) basis, trade, exports, imports and trade surplus grew by 3.6%, 3.2%, 4.1% and 0.5%, respectively.

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Trade Performance : October 2021 and January - October 2021

Trade Performance : October 2021 and January - October 2021 (Infographic)

Trade, Exports and Trade Surplus Posted an All-Time Record High

Malaysia’s trade continued its stellar performance in September 2021, with a new high for trade, exports and trade surplus monthly value. Trade expanded by 25.5% to RM195.54 billion compared to September 2020, the eighth consecutive month of double-digit growth since February 2021. Exports maintained above RM100 billion for the fourth time this year, grew by 24.7% to RM110.83 billion. This was the 13^th consecutive month of year-on-year (y-o-y) expansion since September 2020. Imports increased by 26.5% to RM84.7 billion and trade surplus rose by 19.1% to RM26.13 billion.

The export growth was contributed mainly by robust external demand for petroleum products, manufactures of metal, palm oil and palm oil-based agriculture products as well as electrical and electronic (E&E) products. Exports of manufactures of metal, palm oil and palm oil-based agriculture products as well as E&E products registered the highest monthly value thus far. Meanwhile, exports to ASEAN, China, the United States (US) and Japan recorded double-digit growth. Exports to China registered the highest monthly value ever.

On a month-on-month (m-o-m) basis, trade, exports, imports and trade surplus recorded double-digit growth of 15.2%, 16%, 14.2% and 22.2%, respectively.

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Trade Performance : September 2021 and January - September 2021

Trade Performance : September 2021 and January - September 2021 (Infographic)

Double-Digit Growth for Trade, Exports, Imports and Trade Surplus in August 2021

Malaysia’s trade performance remained resilient and maintained its upward momentum in August 2021. Trade increased by 15.7% to RM169.79 billion compared to August 2020, the seventh consecutive month of double-digit growth since February 2021. Exports grew by 18.4% to RM95.59 billion, the 12th consecutive month of year-on-year (y-o-y) expansion since September 2020. Imports expanded by 12.5% to RM74.2 billion while trade surplus was up by 44.7% to RM21.39 billion. Trade, exports and trade surplus registered the highest monthly value for August.

The export growth was contributed mainly by robust external demand for petroleum products, electrical and electronic (E&E) products mainly due to higher shipments of semiconductors as well as chemicals and chemical products. Exports to all major markets namely ASEAN, China, the United States (US), the European Union (EU), and Japan recorded positive growth.

On a month-on-month (m-o-m) basis, trade surplus surged by 55.5% while trade, exports and imports declined by 6.1%, 1.8% and 11.2% respectively.

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Trade Performance : August 2021 and January - August 2021

Trade Performance : August 2021 and January - August 2021 (Infographic)

Highest Trade, Exports and Imports for the Month of July

Malaysia’s trade performance maintained its upward movement in July 2021 as trade increased by 13% to RM180.96 billion compared to July 2020. This was the sixth consecutive month of double-digit growth since February 2021. Exports grew by 5% to RM97.32 billion, the 11^th consecutive month of year-on-year (y-o-y) expansion since September 2020. Imports rose by 24% to RM83.64 billion while trade surplus contracted 45.8% to RM13.68 billion. Trade, exports and imports registered the highest monthly value for July.  

The export growth was backed by higher shipments of petroleum products, palm oil and palm oil-based agriculture products as well as chemicals and chemical products driven by robust external demand. Exports to major markets namely ASEAN, the European Union (EU) and Japan recorded positive growth.

On a month-on-month (m-o-m) basis, imports increased by 0.5% while trade, exports and trade surplus declined by 4.1%, 7.7% and 38.5%, respectively.

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Trade Performance : July 2021 and January - July 2021

Trade Performance : July 2021 and January - July 2021 (Infographic)

Highest Trade, Exports and Imports for the Month of June

Malaysia’s trade performance continued the growth momentum in June 2021 with trade increasing by 29.3% to RM188.7 billion compared to June 2020. Exports recorded the 10th consecutive month of year-on-year (y-o-y) expansion since September 2020, registering a strong growth of 27.2% to RM105.47 billion. This was the third time exports exceeded RM100 billion. Imports increased by 32.1% to RM83.23 billion and trade surplus expanded by 11.7% to RM22.24 billion. Trade, exports and imports recorded the second highest monthly value thus far after April 2021. This was also the highest monthly value for the month of June and double-digit growth for five successive months.

The export growth was contributed by strong demand for petroleum products, electrical and electronic (E&E) products mainly electronic integrated circuits used in the production of smartphones, cars, computers and home appliances as well as rubber products. Exports to all major markets namely ASEAN, China, the United States (US), the European Union (EU) and Japan recorded double-digit expansion.

On a month-on-month (m-o-m) basis, trade, exports, imports and trade surplus increased by 10.4%, 14.3%, 5.9% and 61.7%, respectively.

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Trade Performance : June 2021 and January - June 2021

Trade Performance : June 2021 and January - June 2021 (Infographic)

The Highest Trade, Exports and Imports Recorded for the Month of May

Malaysia’s trade performance maintained its upward trend in May 2021 with trade expanding by 48.7% to RM170.88 billion compared to May 2020. Exports surged by 47.3% to RM92.31 billion, the ninth consecutive month of year-on-year (y-o-y) expansion since September 2020. Imports rose by 50.3% to RM78.57 billion and trade surplus expanded by 32.3% to RM13.74 billion. Trade, exports and imports recorded the highest monthly value for the month of May and registered double-digit growth for four consecutive months.

The export growth was contributed mainly by robust demand for electrical and electronic (E&E) products mainly semiconductors due to the increasing orders for work-from-home equipment and digitalisation of businesses, rubber products as well as petroleum products. All major markets namely ASEAN, China, the United States (US), the European Union (EU) and Japan registered positive export growth.

On a month-on-month (m-o-m) basis, trade, exports, imports and trade surplus contracted by 10.4%, 12.6%, 7.8% and 32.5%, respectively.

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Trade Performance : May 2021 and January - May 2021

Trade Performance : May 2021 and January - May 2021 (Infographic)

Trade, Exports and Imports Continued to Mark a New High

Malaysia’s trade performance maintained its strong growth momentum in April 2021, outperformed March with another record of new high for trade, exports and imports monthly value. Trade grew by 43.2% to RM190.76 billion compared to April 2020. Exports maintained above RM100 billion for two consecutive months, reaching RM105.62 billion and surged by 63%. This was the fastest growth since February 1998 and the eighth consecutive month of year-on-year (y-o-y) expansion since September 2020. Imports increased by 24.4% to RM85.14 billion and trade surplus surged by 663.5% to RM20.48 billion. Trade, exports and imports recorded double-digit growth for three consecutive months.

The expansion in exports was sustained by higher global demand primarily for electrical and electronic (E&E) products mainly semiconductors in tandem with increasing digitalisation and 5G technology development, rubber products as well as petroleum products. Exports to all major markets namely ASEAN, China, the United States (US), the European Union (EU) and Japan registered positive growth.

On a month-on-month (m-o-m) basis, trade, exports and imports grew by 2.7%, 0.6% and 5.4%, respectively. Trade surplus decreased by 15.4%.

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Trade Performance : April 2021 and January - April 2021

Trade Performance : April 2021 and January - April 2021 (Infographic)

MEDIA STATEMENT

MALAYSIA EXTERNAL TRADE STATISTICS

TRADE PERFORMANCE FOR MARCH 2021 AND THE PERIOD OF JANUARY- MARCH 2021

Trade, Exports and Imports Hit New Record High

Malaysia’s trade performance continued its upward trajectory in March 2021, registering the highest monthly value for trade, exports and imports. Total trade expanded by 25.6% to RM185.74 billion compared to March 2020. Exports accelerated by 31%, surpassing RM100 billion mark to reach RM104.95 billion. Imports increased by 19.2% to RM80.79 billion and trade surplus surged by 96.1% to RM24.15 billion. Trade, exports, imports and trade surplus recorded double-digit growth for two consecutive months.

Exports was boosted by higher global demand notably for electrical and electronic (E&E) products mainly semiconductors used in 5G technology and high performance computing as well as rubber products. Exports to major markets namely ASEAN, China, the United States (US) and the European Union (EU) registered a new all-time high.

Compared to February 2021, total trade, exports, imports and trade surplus grew by 18.1%, 19.8%, 15.9% and 35.1%, respectively.

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Trade Performance : March 2021 and January - March 2021

Trade Performance : March 2021 and January - March 2021 (Infographic)

MEDIA STATEMENT

MALAYSIA EXTERNAL TRADE STATISTICS

TRADE PERFORMANCE FOR FEBRUARY 2021 AND THE PERIOD OF JANUARY- FEBRUARY 2021

Trade, Exports, Imports and Trade Surplus Reached a New High for the Month of February

Malaysia’s trade continued its positive growth momentum in February 2021, registering a double-digit growth of 15.4% to RM157.27 billion compared to the same month last year. Exports accelerated by 17.6% to RM87.57 billion and imports rose by 12.7% to RM69.7 billion. Trade surplus surged by 41.6% to RM17.86 billion. Trade, exports, imports and trade surplus posted a new high for the month of February.

Exports maintained its year-on-year (y-o-y) positive growth for six consecutive months. This expansion was also the fastest since October 2018. Export growth was supported by increase in global demand notably for electrical and electronic (E&E) products mainly semiconductor, rubber products as well as commodity-based products particularly petroleum products and palm oil. Higher exports were seen to most major markets namely ASEAN, China, the United States (US), the European Union (EU), Japan and Hong Kong SAR.

Compared to January 2021, trade surplus increased by 7.6%. Total trade, exports and imports were lower by 3.3%, 2.3% and 4.5%, respectively.

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Trade Performance : February 2021 and January - February 2021

Trade Performance : February 2021 and January - February 2021 (Infographic)

MEDIA STATEMENT

MALAYSIA EXTERNAL TRADE STATISTICS

TRADE PERFORMANCE FOR JANUARY 2021 

Exports Maintained Positive Growth - Highest Value for January

Malaysia’s exports in January 2021 maintained its positive growth for five consecutive months, registering an increase of 6.6% to RM89.63 billion compared to January 2020. This also marked the highest export value for the month of January thus far. The expansion was supported by increase in global demand notably for electrical and electronic (E&E) and rubber products as well as front-loading activities prior to the festive season. Higher exports was seen to China, the United States (US), Viet Nam, Singapore and Hong Kong SAR.

Imports in January 2021 expanded by 1.3% y-o-y to RM73.02 billion. Total trade rose by 4.1% to RM162.65 billion, the highest value registered for the month of January. Trade surplus surged by 38% to RM16.6 billion, sustaining a double-digit growth for eight consecutive months.

Compared to December 2020, total trade, exports, imports and trade surplus decreased by 4.8%, 6.4%, 2.7% and 19.8%, respectively.

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Trade Performance : January 2021

Trade Performance : January 2021 (Infographic)