The Ministry of International Trade and Industry said the export value in 2022 exceeded the Twelfth Plan projection for 2025, three years ahead of target, as exports to Asean, China, the US, the EU and Japan registered a new record high.
Meanwhile, the country's imports rose 31.3% y-o-y to a historical high of RM1.3 trillion, on the back of increases in intermediate goods, capital goods and consumption goods. According to Miti, this was the fastest growth on record since 1994, taking the country's total trade value past the RM2 trillion mark for the second consecutive year.In the month of December alone, trade rose 8.6% y-o-y to RM236.02bil, exports increased 6% to RM131.89bil and imports expanded 12% to RM104.13bil.In 2023, Miti said Malaysia's trade is expected to grow 1.3% while exports and imports are estimated to increase 2.2% and 0.