KUALA LUMPUR (June 8): Malaysia's trade value recorded a new achievement in 2021, surpassing RM2 trillion — the fastest growth since 1994, according to the Department of Statistics Malaysia (DOSM). 

The country’s total trade posted a double-digit growth of 24.8% to RM2.2 trillion in 2021 from RM1.8 trillion in 2020 after recording negative growth for two consecutive years with all states recording an increase in total trade, said DOSM in a statement. 

The DOSM said world trade returned to strength after experiencing a disruption of the global supply chain as well as economic uncertainty triggered by the Covid-19 pandemic. The global economic recovery is driven by economic recovery strategies implemented by each country and the rapid increase in vaccination rates thus contributing to the increase in demand for goods and services. 

According to Malaysia’s chief statistician Datuk Seri Mohd Uzir Mahidin, all states recorded an increase in total trade, dominated by Selangor with RM112.6 billion, followed by Penang (RM94.4 billion) and Johor (RM87.4 billion). 

“Malaysia’s exports valued at RM1,239.8 billion in 2021, weighed up 26% as compared to RM983.8 billion in 2020. 

“The increase in exports was due to the higher exports by all states namely Selangor (RM62.8 billion), Penang (RM49.9 billion), Johor (RM47.9 billion), Sarawak (RM17.6 billion), Kedah (RM12.8 billion), Kuala Lumpur (RM12.1 billion), Perak (RM11.3 billion), Sabah (RM10.4 billion), Pahang (RM10.3 billion), Terengganu (RM8.5 billion), Melaka (RM7.9 billion), Negeri Sembilan (RM3.1 billion), Labuan (RM1 billion), Perlis (RM177.2 million) and Kelantan (RM97.1 million),” said Mohd Uzir. 

Among the top five major exporting states, Penang remained the top exporter with a share of 29.3%, followed by Johor (20.6%), Selangor (19.0%), Sarawak (6.8%), and Kuala Lumpur (3.5%), the chief statistician explained. 

“The export expansion was underpinned by strong exports of electronic integrated circuits in Penang. Meanwhile, higher exports recorded in Johor were contributed by refined petroleum products, while rubber gloves were the main contributors of exports in Selangor. Liquefied natural gas (LNG) was the main contributor of exports in Sarawak,” he said. 

On the other hand, Mohd Uzir said imports also grew by 23.3% to RM987.2 billion in 2021 compared with RM800.5 billion in the previous year. 

The increase in imports was due to higher imports from Selangor (RM49.8 billion), Penang (RM44.5 billion), Johor (RM39.5 billion), Kedah (RM19.4 billion), and Kuala Lumpur (RM10.2 billion). 

“Selangor remained as the largest importer with a share of 27%, followed by Penang (23.5%), Johor (20 %), Kuala Lumpur (7.3%) and Kedah (5.9%).

“Higher imports recorded in Selangor and Kuala Lumpur were contributed by other electrical and electronic products. In addition, electronic integrated circuits were the main contributors of imports in Penang and Kedah. Meanwhile, refined petroleum products were the main contributors of imports in Johor,” he added.