Malaysia achieved a trade value of RM2.879 trillion in 2024, an increase of 9.2% from the previous year.
This marks the fourth consecutive year that the country has surpassed the RM2 trillion mark.
According to the Ministry of Investment, Trade and Industry (Miti), exports increased by 5.7% to RM1.508 trillion, reaching 87.2% of the 2025 target set under the 12th Malaysia Plan.
Imports also saw a significant increase of 13.2%, totaling RM1.371 trillion.
Total exports exceeded imports, which amounted to RM136.88 billion, extending Malaysia's streak of positive trade balance to 27 years.
Exports to Asean, the US, the EU, and Taiwan grew, with Taiwan becoming the fourth largest trading partner.
The increase in exports to key markets such as Canada, Turkey, and Mexico was driven by free trade agreements.
Bangladesh, Costa Rica and Kenya, which are new markets for Malaysia, also contributed to the growth.
Malaysia's trade growth was driven by strong demand for electrical goods, machinery and agricultural products.
Miti and Matrade have always been committed to sustaining growth through strategic policies despite obstacles.
