Press Releases 2022
Trade Performance for June 2022 and The Period of January-June 2022
New Record High for Trade, Exports and Imports
Malaysia’s trade performance in June 2022 continued its stellar performance, registering an all-time record high for trade, exports and imports. Trade increased by 43.4% to RM270.39 billion compared to June 2021, the 17th consecutive month of double-digit growth. Exports recorded the 11th consecutive month of double-digit expansion, registering a strong growth of 38.8% to RM146.16 billion. Imports rose by 49.3% to RM124.23 billion while trade surplus declined marginally by 0.8% to RM21.93 billion.
The export growth was contributed by strong demand for electrical and electronic (E&E) products, petroleum products, liquefied natural gas (LNG) as well as palm oil and palm oil-based agriculture products. Exports to most major trading partners notably ASEAN, the United States (US), the European Union (EU) and Japan recorded double-digit growth. Highest monthly export value was registered to ASEAN, the US and the EU.
On a month-on-month (m-o-m) basis, trade, exports, imports and trade surplus expanded by 18.4%, 21.3%, 15.2% and 72.7%, respectively.
Trade for the second quarter (Q2) of 2022 grew by 32.7% to RM730.36 billion, compared to Q2 2021. Exports climbed by 30.0% to RM394.24 billion and imports increased by 36.1% to RM336.13 billion. This was the highest quarterly value for trade, exports and imports. Trade surplus edged up by 3.2% to RM58.11 billion.
Compared to the first quarter (Q1) 2022, trade, exports and imports rose by 16.9%, 14.3% and 20.1%, respectively while trade surplus contracted by 10.6%.
For the first half (H1) of 2022, trade was up by 28.2% to RM1.355 trillion from the same period last year. Exports increased by 26.1% to RM739.13 billion and imports grew by 30.9% to RM616.00 billion. Trade surplus climbed by 6.7% to RM123.13 billion. This was the highest half year value recorded for trade, exports, imports and trade surplus.
Export Performance of Major Sectors
Exports of Manufactured and Agriculture Goods Recorded the Highest Value
In June 2022, exports of all three sectors recorded strong double-digit growth compared to the same month last year. Exports of manufactured goods reached its highest monthly value at RM122.07 billion or 83.5% of total exports, increased by 33.8% year-on-year (y-o-y) and was the 11th consecutive month of double-digit growth. Export products which expanded more than RM1 billion were seen for E&E products, petroleum products, machinery, equipment and parts, manufactures of metal as well as optical and scientific equipment.
Exports of agriculture goods (8.8% share) rose by 46.8% y-o-y to RM12.93 billion, the highest monthly value. The increase was driven mainly by higher exports of palm oil and palm oil-based agriculture products.
Exports of mining goods (7.2% share) leaped by 116.3% y-o-y to RM10.53 billion underpinned by higher exports of LNG and crude petroleum.
3 Major exports in June 2022:
• E&E products, valued at RM52.34 billion and accounted for 35.8% of total exports, increased by 40.9% from June 2021;
• Petroleum products, RM19.47 billion, 13.3% of total exports, surged by 104.1%;
• Palm oil and palm oil-based agriculture products, RM10.72 billion, 7.3% of total exports, surged by 51.7%;
• Chemicals and chemical products, RM6.90 billion, 4.7% of total exports, increased by 4.1%; and
• LNG, RM6.27 billion, 4.3% of total exports, surged by 153.1%.
Compared to May 2022, exports of manufactured, agriculture and mining goods were up by 21.6%, 20.0% and 20.3%, respectively.
For the period of January to June 2022, exports of manufactured goods edged up by 22.0% to RM621.61 billion compared to the same period of 2021, supported by higher exports of E&E products, petroleum products, palm oil-based manufactured products as well as manufactures of metal. Exports of agriculture goods rose by 44.3% to RM61.06 billion, buoyed by higher exports of palm oil and palm oil-based agriculture products. Exports of mining goods surged by 66.3% to RM53.01 billion on the back of robust exports of LNG and crude petroleum.
Trade Performance with Major Markets
ASEAN – New Record High for Exports
In June 2022, trade with ASEAN surged by 65.5% y-o-y to RM74.00 billion, accounted for 27.4% of Malaysia’s total trade. Exports sustained double-digit growth since August 2021, soared by 55.2% to RM41.59 billion and was the highest monthly value. The expansion was contributed by higher exports of petroleum products, E&E products and crude petroleum. Imports from ASEAN leaped by 80.9% to RM32.41 billion.
Breakdown of exports to ASEAN countries:
• Singapore RM21.53 billion, increased by 71.6%
• Thailand RM5.87 billion, ↑23.7%
• Indonesia RM5.27 billion, ↑75.5%
• Viet Nam RM4.41 billion, ↑16.5%
• Philippines RM2.65 billion, ↑27.5%
• Myanmar RM866.6 million, ↑360.4%
• Brunei RM574.2 million, ↑167.9%
• Lao PDR RM278.3 million, ↑4,164.4%
• Cambodia RM130.3 million, ↓40.1%
Exports to major markets in ASEAN that recorded expansion were Singapore which rose by RM8.99 billion due to higher exports of E&E products, Thailand (↑RM1.12 billion, LNG), Indonesia (↑RM2.27 billion, petroleum products), Viet Nam (↑RM623.7 million, crude petroleum) and the Philippines (↑RM572.4 million, petroleum products).
On a m-o-m basis, trade, exports and imports expanded by 10.6%, 12.4% and 8.2%, respectively.
In H1 2022, trade with ASEAN increased by 37.4% to RM370.61 billion compared to the same period of 2021. Exports to this region rose by 31.6% to RM212.89 billion following higher exports of E&E products, petroleum products, crude petroleum, machinery, equipment and parts as well as chemicals and chemical products. Imports from ASEAN was up by 46.0% to RM157.72 billion.
China – Trade Registered 19 Months of Double-Digit Expansion
In June 2022, trade with China which made up 16.5% of Malaysia’s total trade grew by 17.3% y-o-y to RM44.52 billion, the 19th successive month of double-digit growth. Exports to China climbed by 4.2% to RM18.34 billion contributed mainly by higher exports of E&E products, metalliferous ores and metal scrap as well as LNG. Imports from China rose by 28.6% to RM26.17 billion.
Compared to May 2022, trade, exports and imports were up by 19.8%, 20.2% and 19.6%, respectively.
Trade with China during the first six months of 2022 edged up by 16.4% to RM232.30 billion compared to the same period of 2021. Exports rose by 13.7% to RM101.03 billion underpinned by higher exports of E&E products, LNG as well as palm oil and palm oil-based products. Imports from China increased by 18.7% to RM131.27 billion.
The US – Exports Recorded New High
Trade with the US in June 2022 grew by 35.4% y-o-y to RM25.91 billion, comprising 9.6% of Malaysia’s total trade. Exports recorded the fourth successive month of double-digit growth, expanding by 30.6% to RM16.86 billion and was the highest value registered. The increase was attributed mainly to higher exports of E&E products. Imports from the US climbed by 45.6% to RM9.05 billion.
On a m-o-m basis, trade, exports and imports recorded growth of 29.4%, 40.7% and 12.5%, respectively.
During the first six months of 2022, trade with the US rose by 21.0% to RM124.72 billion compared to the same period of 2021. Exports increased by 16.5% to RM79.28 billion driven by robust exports of E&E products. Imports from the US expanded by 29.8% to RM45.45 billion.
The EU – Highest Export Value Ever Registered
Trade with the EU which represented 8.0% of Malaysia’s total trade in June 2022 grew by 37.2% y-o-y to RM21.72 billion. Exports achieved a new record high, expanding by 39.4% to RM12.53 billion. This was the ninth straight month of double-digit growth driven by higher exports of E&E products, manufactures of metal, palm oil and palm oil-based agriculture products as well as petroleum products. Imports from the EU climbed by 34.3% to RM9.20 billion.
Breakdown of exports to the top 10 EU markets which accounted for 92.0% of Malaysia’s total exports to the EU were:
• Netherlands RM4.65 billion, increased by 92.1%;
• Germany RM2.68 billion, ↑1.4%;
• Italy RM1.14 billion, ↑77.8%;
• France RM864.6 million, ↑90.2%;
• Belgium RM602.0 million, ↑8.8%;
• Spain RM481.7 million, ↑9.5%;
• Poland RM391.8 million, ↑34.4%;
• Czech Republic RM259.2 million, ↓2.3%;
• Slovenia RM237.3 million, ↑10.8; and
• Hungary RM224.7 million, ↑39.6%.
Exports to the EU major markets that recorded growth notably the Netherlands, edged up by RM2.23 billion attributed to strong demand for palm oil and palm oil-based agriculture products, Germany, (↑RM37.6 million, E&E products) and Italy, (↑RM499.0 million, manufactures of metal).
On a m-o-m basis, trade, exports and imports rose by 24.8%, 28.5% and 20.1%, respectively.
During H1 2022, trade with the EU increased by 24.4% to RM107.52 billion compared to H1 2021. Exports expanded by 25.1% to RM63.85 billion contributed by higher exports of E&E products, manufactures of metal, palm oil and palm oil-based products as well as iron and steel products. Imports from the EU edged up by 23.5% to RM43.66 billion.
Japan – Double-Digit Export Growth for 16 Consecutive Months
In June 2022, trade with Japan which constituted 5.9% of Malaysia’s total trade grew by 32.9% y-o-y to RM15.84 billion. Exports jumped by 55.8% to RM8.71 billion, the 16th successive month of double-digit expansion buoyed by strong exports of LNG. Imports from Japan climbed by 12.7% to RM7.13 billion.
Compared to May 2022, trade, exports and imports were up by 17.9%, 24.0% and 11.3%, respectively.
For H1 2022, trade with Japan edged up by 16.0% to RM86.11 billion compared to H1 2021. Exports rose by 23.8% to RM46.13 billion as a result of higher exports of LNG. Imports from Japan increased by 8.0% to RM39.98 billion.
Trade with FTA Partners
In June 2022, trade with Free Trade Agreement (FTA) partners which absorbed 65.8% of Malaysia’s total trade expanded by 43.0% y-o-y to RM178.00 billion. Exports to FTA partners grew by 39.8% to RM95.95 billion and imports climbed by 47.0% to RM82.06 billion.
Increases in exports were recorded to Hong Kong SAR, by 41.5% to RM9.08 billion supported by growing exports of E&E products, India, (↑39.1% to RM5.47 billion, crude petroleum) and Turkiye (↑62.1% to RM1.58 billion, manufactures of metal). Meanwhile, exports to the Republic of Korea, expanded by 47.2% to RM4.59 billion, Australia (↑40.9% to RM4.56 billion), New Zealand (↑319.7% to RM1.15 billion) and Pakistan (↑33.2% to RM785.9 million) due to higher exports of petroleum products.
Compared to May 2022, trade, exports and imports grew by 15.8%, 17.0% and 14.5%, respectively.
Trade with FTA partners during the first six months of 2022 which took up 66.6% of Malaysia’s total trade rose by 27.6% to RM902.43 billion compared to the same period of 2021. Exports expanded by 27.1% to RM496.00 billion and imports increased by 28.3% to RM406.42 billion.
Import Performance
Total imports in June 2022 grew by 49.3% y-o-y to RM124.23 billion. The three main categories of imports by end use which accounted for 68.3% of total imports were:
• Intermediate goods, valued at RM64.41 billion or 51.8% of total imports, increased by 46.9%, following higher imports of processed industrial supplies;
• Capital goods, valued at RM11.15 billion or 9.0% of total imports, grew by 30.4%, due mainly to higher imports of industrial transport equipment; and
• Consumption goods, valued at RM9.23 billion or 7.4% of total imports, rose by 25.6%, as a result of higher imports of processed food and beverages mainly for household consumption.
During January to June 2022, imports was up by 30.9% to RM616.00 billion from the same period of 2021. Imports of intermediate goods grew by 32.8% to RM344.14 billion, capital goods (RM56.23 billion, ↑12.5%) and consumption goods (RM50.37 billion, ↑21.1%).
MATRADE Kickstarts Wave 8 of The Mid-Tier Companies Development Programme (MTCDP)
KUALA LUMPUR, 13 July 2022 (Wednesday): Malaysia External Trade Development Corporation (MATRADE) kickstarts Mid-Tier Companies Development Programme (MTCDP) for Wave 8, involving 25 high-performing Mid-Tier Companies (MTCs). The Kick-Off event graced by its Chief Executive Officer, Datuk Mohd Mustafa Abdul Aziz marked the starting point for the journey of these MTCs to be regional and global champions.
Launched in 2014, MTCDP is the only high-impact exporters’ development programme in Malaysia’s 5-year Development Plan, aimed to accelerate their export growth, enhance their global competitiveness and promote Malaysian homegrown brands in the global marketplace. MTCDP has become the launchpad for many companies in various industries to stamp their mark in existing export markets and make inroads in the new markets.
Datuk Mohd Mustafa said, “MTCDP in 2022 will be focusing on high impact and high growth industries, with greater emphasis on new elements of global competitiveness namely digitalisation and sustainability. These augurs with the 12th Malaysia Plan to regrow the economy, sustainable and inclusive growth which will benefit the business communities on the whole”.
“The Development of MTCs in Malaysia will also drive the growth of Micro, Small and Medium Sized Enterprises (MSMEs). Our MTCs can be the mentor or anchor to MSMEs in strengthening their competitiveness and business offering”, added Datuk Mohd Mustafa.
“Wave 8 of MTCDP will see 25 well-established Mid-Tier Companies that were selected to participate in a 9-months programme. (14 MTCs are from the manufacturing sector, and 11 MTCs are from the services sector). These companies will involve in a series of key activities which include the development of business assessment framework, social and economic assessment resulting from MTCDP, and structured capability programmes,” he added.
The MTCDP targets export-oriented MTCs with annual revenues between RM50 million to RM500 million for manufacturing companies and RM20 million to RM500 million for services companies.
For the period 2022 to 2025, Deloitte was chosen as the external market and industry expert for companies enrolled in MTCDP. The firm will provide customised export support, exclusive to the needs of each MTCs as well as according to targeted industry clusters based on the structured approach, facilitated by a strong delivery team based in Malaysia, and supported by significant regional and global experts.
MTCDP continues to be relevant by keeping up with the evolving business and economic landscape, adopting new elements such as digitalisation, sustainability, global branding and supply chain development in the new scope of the programme, based on the lessons learned from the pandemic and global megatrends.
Since its inception, MTCDP has successfully nurtured 275 Malaysian global champions from various sectors and industries. Interested companies are encouraged to contact Alamat emel ini dilindungi dari Spambot. Anda perlu hidupkan JavaScript untuk melihatnya. for more details.
MATRADE Promotes Malaysia's Capabilities in Semiconductor Industry at SEMICON West 2022
FRIDAY, JULY 8, 2022, KUALA LUMPUR: In line with the continued efforts to enhance exports of high value sectors, Malaysia External Trade Development Corporation (MATRADE) will lead a participation of six (6) Malaysian companies at SEMICON West 2022, a flagship trade event for global microelectronics industry. The event will take place at Moscone Center, San Francisco, California, USA, from 12 to 14 July 2022.
This year, Malaysia Pavilion will showcase high value products and services such as automated optical inspection (AOI) equipment & solutions, electronics manufacturing services, printed circuit board assemblies, semiconductors machine parts and automatic wafer equipment. The capable Malaysian companies involved in the participation are ACA Integration, CAPE EMS Manufacturing, CG Global Profastex Manufacturing, Control Automation Technology, Seong Hin Precision Engineering and Waftech.
“SEMICON West is deemed as one of the world’s largest trade exhibitions for the semiconductor industry. Our local electrical and electronics (E&E) companies could leverage it to network and engage with top semiconductor industry players to gain access into the industry’s global supply chains. The objective of our participation is to position Malaysia as a major hub for sourcing of E&E and semiconductor related products and services”, said Mr. Naim Abdul Rahman, Director of Electrical & Electronics, ICT, Machinery & Equipment, MATRADE.
Zuaziezie Zulkefli, Trade Commissioner of MATRADE Los Angeles said, "We are excited to be back in SEMICON West physically after 2 years of hiatus brought over by the pandemic. This is the 13th time that MATRADE has organised the national pavilion at the event".
Malaysia’s E&E exports led by semiconductor devices and integrated circuits (ICs) is expected to perform well this year, despite the ongoing pandemic challenges and the chip supply shortage. Strong export growth momentum is likely to continue following increasing demand for chips which are highly used in multiple products not limited to computers, mobile phones and gaming consoles, but also smart automation equipment, Internet-of-Things devices and electric vehicles”, added Naim.
Malaysia’s exports of E&E products in 2021 were valued at RM455.73 billion, an increase of 18% from 2020; accounting for 36.8% share of Malaysia’s total exports. The USA is a significant export market for Malaysia’s E&E products, ranked as the second largest E&E export destination, taking up a value of RM66.48 billion or 14.6% share of total E&E exports. Export of E&E products in January to May 2022 reached a value of RM230.50 billion, increased by 30.6% from RM176.55 billion registered in the same period in 2021.
Semiconductor formed 62% of Malaysia’s total E&E exports with value amounted to RM281.38 billion in 2021.
Malaysian Aerospace Industry Prepares for Take-Off at Farnborough International Airshow 2022
KUALA LUMPUR, 12 July 2022 (Tuesday): Malaysia External Trade Development Corporation (MATRADE) is taking the lead in organising an aerospace mission and Malaysia's participation at Farnborough International Airshow (FIA) 2022 from 18-22 July 2022, to speed up the recovery of Malaysia's aerospace industry following the slowdown in aerospace exports in recent years. YBhg. Tan Sri Dr. Halim Mohammad, Chairman of MATRADE, will lead this mission.
The FIA is a biennial trade show for the aerospace and defence industries that is attended by aerospace giants such as Airbus, Boeing, Embraer, and Bombardier. The goal in attending FIA is to demonstrate our current aerospace eco-system, while fostering industrial ties with OEMs and Tier 1 & Tier 2 suppliers from across the world. The participation in FIA 2022 is significant because it will serve as a platform for bringing Malaysia's aerospace industry to pre-pandemic levels and beyond, generating growth for a strong revival.
According to YBhg Tan Sri Dr. Halim Mohammad, Chairman of MATRADE, “Malaysian aerospace industry sees an encouraging prospect for their business and operation this year as Covid-19 pandemic is entering the endemic stage. The aerospace industry is a strategic industry and it augurs well with Government’s 12th Malaysia Plan to focus on high value sector. MATRADE is always committed to generate more opportunities for Malaysian aerospace companies to capitalise on the demand of global aerospace market.”
A total of 14 Malaysian companies and three (3) government agencies will take part in the five-day event organised by MATRADE under the Malaysia Pavilion. The National Aerospace Industry Coordination Office (NAICO), Malaysian Investment Development Authority (MIDA), Bumiputera Agenda Steering Unit (TERAJU), and Invest Selangor Berhad will collaborate with MATRADE to organise Malaysia's participation in this event, aiming of promoting Malaysia as Southeast Asian aerospace industry hub and exploring opportunities for technology development, as well as partnerships with foreign companies to enhance Malaysian companies' capabilities. Interaction with various government agencies, tier-1 corporations such as Boeing and Airbus, consultancies, and trade associations will also be arranged during the exhibition to promote exports of aerospace products and services. This will also promote Malaysia as a significant provider of products and services of the industry, as well as integrate Malaysian firms into the global aerospace supply chain.
“The industry has created jobs for more than 27,500 highly skilled workers. Malaysia’s expertise and strength in the aerospace industry revolve around MRO services, and manufacturing of aero-structures as well as engine components” added Halim.
MATRADE has been participating in the FIA bi-annual exhibition since 2014. Overwhelming responses were received from industry players in the previous years, and they have also indicated strong desire to participate in this exhibition on a regular basis in order to keep abreast with the emerging trends and regulations and to foster relations with global partners. Malaysia’s exports of aerospace parts and components totaled RM5.79 billion in 2021. Major export markets were France, China and the United Kingdom.
MATRADE Enhances Guideline for eTRADE 2.0 Programme to Boost Exports Through Cross Border e-Commerce Marketplaces
MONDAY, 4 JULY 2022, KUALA LUMPUR: MATRADE has enhanced guidelines for its eTRADE Programme for Malaysian Micro, Small and Medium Enterprises (MSME), effective 1 July 2022. The enhancement is carried out with the objective of encouraging more MSMEs to take part in the Programme that will accelerate the growth of exports through having presence in cross border eCommerce marketplaces.
As businesses, especially in international trade and exports, continue their upward stride in their path of recovery post-COVID, eCommerce now plays an increasingly important role in sustaining business activities, including export. The initiative by MATRADE to boost exports through cross border e-commerce marketplaces started with the introduction of eTrade Programme under the 11th Malaysia Plan (11MP) from 2017 to 2020 where a total of 3,358 MSMEs benefitted with more than RM300 million worth of export revenue generated.
To continue facilitating Malaysian MSMEs in this field, MATRADE has continued with the eTRADE Programme 2.0 under the 12MP starting from March 2021. Under the programme, Malaysian MSMEs are offered with two schemes of export facilitation initiatives, i.e. Onboarding Scheme worth RM5,000 and Digital Marketing & Training (DMT) Scheme worth RM20,000 for each company, respectively.
Through the Onboarding Scheme, qualified Malaysian MSMEs will be eligible to utilise up to RM5,000 per company in the form of reimbursement for their expenses incurred in onboarding cross-border eCommerce platforms of their choice. The MSMEs are also allowed to join multiple platforms under this scheme, allowing them to have more options in choosing the eCommerce platforms that best suit their needs and target markets.
For the DMT Scheme, qualified MSMEs will be able to receive up to RM20,000 per company in reimbursement for their expenses in conducting digital marketing activities to promote their products overseas and for eCommerce related training programmes they choose to attend.
“To better streamline our facilitation and to encourage more MSMEs to benefit from the programme, MATRADE has enhanced the guideline for eTRADE Programme 2.0, effective 1 July 2022. Under the revised guideline, the qualification criteria have been updated for both schemes, taking into account the need for MSMEs to diversify its export markets and upscale its exports through presence in various cross border e-commerce marketplaces”, said Mr Abu Bakar Yusof, Deputy Chief Executive Officer (Exporters Development), MATRADE.
To get your business online globally through eTRADE Programme 2.0 and for more information, visit www.matrade.gov.my/en/export-to-the-world/trade-facilitation-page/etrade-programme.
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