In 2019, Malaysia’s trade surplus continued to register double-digit growth for the 3rd consecutive years, widening by 11% to RM137.39 billion compared to RM123.78 billion in 2018. This was the largest trade surplus since 2009, representing Malaysia’s achievement of 22 consecutive years of trade surplus.
Trade with the EU in 2019 amounted to RM174.65 billion or 9.5% share of Malaysia’s trade, a decrease of 4.8% compared to 2018. Exports to the EU declined by 2.9% to RM95.78 billion due to lower exports of manufactures of metal, palm oil and palm oil-based agriculture products, chemicals and chemical products as well as iron and steel products.
However, improved export performance was seen in exports of machinery, equipment and parts, petroleum products, transport equipment, palm oil-based manufactured products and processed food which collectively increased by RM1.44 billion. Manufactured goods continued to dominate exports to the region with the share expanded to 91.3%, marking the highest share since 2001, in comparison with the agriculture and mining goods.
Imports from the EU dropped by 7% to RM78.88 billion and the main imports were E&E products, machinery, equipment and parts as well as transport equipment.
Source: Department of Statistics, Malaysia
Compiled By : MATRADE
Tabulated by Matrade