Impressive 9.2% Year-on-Year Growth as Malaysia Crosses the RM2.88 Trillion Trade Performance Mark
Malaysia’s trade performance in 2024 has shattered expectations, crossing the RM2.88 trillion mark with an impressive 9.2% year-on-year growth.
This achievement not only reinforces Malaysia’s resilience in a challenging global economy but also sets a bold precedent for the region’s trade ecosystem.
Breaking Records with Strategic Partners
For the fourth consecutive year, Malaysia’s exports have exceeded RM1 trillion, reaching RM1.51 trillion—a major step toward achieving 87.2% of the 12th Malaysia Plan’s mid-term targets.
Imports, meanwhile, surged by 13.2% to RM1.371 trillion, marking the third consecutive year they have surpassed RM1 trillion.
The result?
A trade surplus of RM136.88 billion—Malaysia’s 27th consecutive year of surplus since 1998.
Taiwan: The Rising Star in Bilateral Trade
Among Malaysia’s trading partners, Taiwan stood out, officially becoming the fourth largest partner.
The burgeoning trade relationship—driven by record-breaking exports to Taiwan—underscores a strategic shift and new opportunities for bilateral collaboration.
Free Trade Markets Back in Action
Exports to free trade agreement (FTA) markets also saw a notable rebound, reversing a contraction from 2023.
Canada led the charge with increased demand for electrical and electronic (E&E) products, while Turkey and Mexico achieved record export levels thanks to robust shipments of iron, steel, and chemical products.
Emerging Markets Drive New Horizons
Malaysia expanded its global footprint with remarkable export growth in emerging markets.
Bangladesh, Costa Rica, Egypt, Nigeria, Angola, Ethiopia, Algeria, Togo, Libya, and Kenya saw sharp increases, with Kenya, Oman, and Namibia achieving record highs.
These new frontiers highlight Malaysia’s ability to diversify trade partners and tap into untapped potential.
E&E and Machinery Lead the Charge
Electrical and electronic exports, along with machinery and equipment, stood out as key growth drivers.
Both sectors saw increases exceeding RM10 billion, proving Malaysia’s strength in high-value industries and its ability to meet global demand.
Strategic Plans for a Sustainable Future
The Investment, Trade, and Industry Ministry, in collaboration with the Malaysia External Trade Development Corporation (MATRADE), is laser-focused on sustaining long-term growth.
Initiatives under the 12th Malaysia Plan, the National Trade Blueprint, and the New Industrial Master Plan aim to fortify Malaysia’s position as a global trade powerhouse.
A Resilient Nation Leading by Example
In the face of global economic uncertainties, Malaysia’s remarkable trade performance underscores its adaptability, strategic foresight, and commitment to innovation.
With initiatives firmly in place, Malaysia is poised to lead Southeast Asia’s trade renaissance while setting a benchmark for sustainable economic growth worldwide.
The APPIES is an annual event that presents a rare opportunity for creative, media, digital and marketing agencies or brands to present their best campaigns to the industry.
This is the only event where Live Presentations meets Live Judging.
Similar to TED Talks, The APPIES is the chance for great presenters with outstanding work to show it off to some of the industry’s most important industry leaders.
This year’s winners will receive Gold, Silver or Bronze trophies for 21 categories, and 6 special Best of Best categories (red trophies) that require no submissions!
Campaign entries must have run between June 2024 to May 2025
