World

International trade – Malaysia’s economic leverage in 2022

Despite difficulties caused by COVID-19, international trade was considered Malaysia’s economic leverage in 2022, expanding by close to 30% to 2.613 trillion MYR (593.5 billion USD) for the period of January to November 2022, according to the latest figure published by the Department of Statistics of Malaysia.
International trade – Malaysia’s economic leverage in 2022 ảnh 1Illustrative image (Photo: VNA)

Kuala Lumpur (VNA) - Despite difficulties caused by COVID-19, international trade was considered Malaysia’s economic leverage in 2022, expanding by close to 30% to 2.613 trillion MYR (593.5 billion USD) for the period of January to November 2022, according to the latest figure published by the Department of Statistics of Malaysia.

Within this period, exports increased by 27.2% to reach 1.42 trillion MYR while imports rose by 33.3% to 1.193 trillion MYR. Trade surplus edged up by 2.6% to 227.89 billion MYR.

To achieve this fruitful result, the CEO of Malaysia External Trade Development Corporation (MATRADE), Mohd Mustafa Abdul Aziz, said the year 2022 was truly an outstanding milestone for Malaysia’s trade thanks to breakthroughs from 2021.

Foreign investments in Malaysia played a significant role in the growth of Malaysia's trade over the last few decades. MSMEs contributed 37.4% of Malaysia's GDP and 11.7% to overall Malaysia's exports for 2021.

Hence, it is vital for Malaysian MSMEs to adopt digitalisation to be more competitive globally. In 2021, gross value added of eCommerce amounted to 201.1 billion MYR, an increase of 22.7%.

Malaysia can benefit from opportunities presented by globalization and regional economic integration through the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) by taking advantages of its strategic location.

In addition, globalization has huge potential for Malaysia, providing accessibility as the country continues to expand its market share on international market on a greater scale in the time to come./.

VNA
#Malaysia #economy #trade #international #Vietnam #Vietnamplus #Vietnam News Agency Malaysia
Follow VietnamPlus

Related News

Malaysia ready to assist enterprises, people reap CPTPP benefits

Malaysia ready to assist enterprises, people reap CPTPP benefits

Malaysia is ready to assist industries, exporters, and people to reap the benefits of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) which came into effect from 29 November 2022 for Malaysia, according to the country’s Ministry of International Trade and Industry (MITI).

See more

Politburo member and President of the National Assembly of Laos Xaysomphone Phomvihane passes away at 11:18 on August 8. (Photo: VNA)

Special communiqué on passing of Lao National Assembly President

To honour Comrade Xaysomphone Phomvihane’s contributions and express deepest condolences over his passing, the LPRP Central Committee, the National Assembly, the Government and the Lao Front for National Development have decided to declare a five-day national mourning period from August 9 to 13 at the National Convention Centre.

Lao National Assembly President Xaysomphone Phomvihane passes away at 70. (Photo: VNA)

Lao National Assembly President passes away

Comrade Xaysomphone Phomvihane was one of the core leaders of the LPRP Central Committee, a person of great knowledge, capability, and astuteness, with extensive leadership experience across local administrations and multiple sectors.

Officials and diplomats at the ceremony marking ASEAN's 59th anniversary in Jakarta, Indonesia, on August 8 (Photo: VNA)

ASEAN turns 59, vows unity and firm central role

ASEAN Secretary-General Kao Kim Hourn said nearly six decades of dialogue, mutual respect and a drive to find common ground have forged the strength that carried the bloc through crises and kept regional peace and stability intact.

Cambodia steps up efforts to protect endangered wildlife

Cambodia steps up efforts to protect endangered wildlife

Conservation experts emphasise that protecting the Giant Ibis is of paramount importance and urge the public to prevent illegal land clearing, end wildlife trafficking and poisoning, and decline the consumption or keeping of wild animals.

Cambodia, RoK expand “Peace Village” initiative for rural development

Cambodia, RoK expand “Peace Village” initiative for rural development

The Peace Village Project is part of the Cambodia-RoK Strategic Partnership. In its second phase, the project is being implemented in 30 villages across three northwestern provinces that were heavily affected by war and landmines, with the aim of transforming them into areas of peace, sustainable development and shared prosperity.

A view of the meeting between Indonesian President Prabowo Subianto and 150 researchers from the National Research and Innovation Agency (BRIN) on August 6 (Photo: VNA)

Indonesia sees technology mastery as key to national progress

Addressing a meeting with 150 researchers from the National Research and Innovation Agency (BRIN) on August 6, Indonesian President Prabowo Subianto affirmed that mastery of science and technology is essential for accelerating national development and enhancing Indonesia's global competitiveness.

Cambodia eyes higher value-added manufacturing

Cambodia eyes higher value-added manufacturing

Cambodian Deputy Prime Minister Sun Chanthol urged the private sector to work closely with the government in preparing for the next phase of industrial development by moving upstream into higher value‑added manufacturing and strengthening supply chain capabilities.

Malaysia steps up drive to build world-class startup ecosystem

Malaysia steps up drive to build world-class startup ecosystem

For KL20 2026, four new priority areas have been added, aligning with Malaysia's 13th Malaysia Plan (2026–2030), which seeks to increase economic complexity, strengthen high-value industries and expand domestic production of value-added goods and services.

Thai Prime Minister Anutin Charnvirakul (front, right) and Myanmar President Min Aung Hlaing (front, left) at their meeting in Bangkok on August 6, 2026 (Photo: Kyodo/VNA)

Thailand, Myanmar jointly tackle cross-border pollution

Speaking at the signing ceremony, Thai Minister of Natural Resources and Environment Suchart Chomklin described the TOR signing as an important milestone in bilateral environmental cooperation, saying it would enhance water resource management, protect ecosystems and improve life quality for those living in border areas.

Thailand, Japan deepen cooperation in smart agriculture

Thailand, Japan deepen cooperation in smart agriculture

The two sides agreed to strengthen cooperation in smart agriculture through the application of automation, the Internet of Things (IoT), advanced technologies and innovation, while promoting the use of modern agricultural machinery and expanding workforce training.

Thai Prime Minister Anutin Charnvirakul (left) and Myanmar President Min Aung Hlaing (centre) at the official welcome ceremony for the latter in Bangkok on August 6, 2026. (Photo: Kyodo/VNA)

Thailand, Myanmar promote economic, space technology cooperation

At the Thailand-Myanmar Business Forum in Bangkok, attended by Thai Prime Minister Anutin Charnvirakul, President Min Aung Hlaing and more than 700 representatives from government agencies, businesses and the business communities of both countries, the two leaders outlined orientations for boosting economic cooperation and expanding bilateral ties.

At least four killed in Philippines landslides

At least four killed in Philippines landslides

Philippine authorities said four days of heavy rain on the island of Luzon have triggered multiple landslides. In Benguet province, a hillside collapsed onto a small restaurant on August 6, burying three employees working in the kitchen.

Thai rice exports decline nearly 19% in first half of 2026

Thai rice exports decline nearly 19% in first half of 2026

DFT Director-General Arada Fuangthong attributed the decline to abundant global rice supplies, which have intensified price competition. In addition, conflicts in the Middle East disrupted Thai rice exports to Iraq – one of its key markets – from March.