KUALA LUMPUR (Feb 8): Minister of International Trade and Industry Datuk Seri Mustapa Mohamed said exports is expected to grow between 2% and 3% in 2017.

He also projected a 2.7% increase in total trade and 2% growth in imports at MATRADE's 2016 trade performance briefing here today.

In 2016, Malaysia saw an increase in trade of 1.5% to RM1.85 trillion. Exports grew 1.1% to RM785.93 billion from RM777.36 billion the previous year, mainly boosted by electrical and electronic products which grew to RM287.72 billion from RM277.92 billion.

Meanwhile, imports went up 1.9% to RM1.14 billion.

"We're not happy (with these numbers)," Mustapa said.

Exports had been forecast to grow at between 1%-2% in 2016.

Malaysia's total trade in December 2016 recorded double digit growth of 11.1% to RM142.49 billion compared with RM128.19 billion last year.

Meanwhile, trade with China in December 2016 increased significantly by RM4.42 billion to RM10.23 billion. However, Malaysia also recorded a full-year trade deficit of RM43.89 billion against China in 2016.

A higher trade surplus of RM8.72 billion was recorded in December 2016 although total trade surplus for the year fell RM5 billion to RM87.27 billion.

Separately, Mustapa added that Malaysia has not decided on its next step in pursuing the Trans-Pacific Partnership (TPP) agreement, adding that it is still in talks with other members of the trade pact.

The US formally withdrew from the TPP almost as soon as US President Donald Trump came into office on Jan 20.