Overview

Malaysia’s total trade ended 2024 on a high note with double-digit growth in exports and imports, signalling a stronger economic foundation. Total trade recorded an increase of 14.6 per cent or RM32.8 billion to reach a value of RM257.9 billion as compared to RM225.1 billion in the previous year.

Imports showed a positive trend in December 2024 with an increase of 11.9 per cent or RM12.7 billion to RM119.3 billion. Moreover, exports recorded an increase by 16.9 per cent or RM20.1 billion to RM138.5 billion. Trade balance recorded a surplus of RM19.2 billion, escalated by 62.3 per cent from RM11.8 billion to RM19.2 billion in December 2024. 

As compared to November 2024, exports, imports, total trade and trade surplus recorded positive growth of 9.7 per cent, 7.3 per cent, 8.5 per cent and 27.4 per cent, respectively. 

For the fourth quarter (Q4) 2024, exports imports, total trade and trade surplus also recorded an expansion as compared to Q4 2023 by 7.3 per cent, 5.3 per cent, 6.4 per cent and 25.0 per cent, respectively.

Exports, imports and total trade for the period of January to December 2024 rose by 5.7 per cent, 13.2 per cent and 9.2 per cent, respectively, as compared to the same period of the preceding year. Meanwhile, trade surplus declined by 36.4 per cent. 

Chart 1: Trade Performance: Monthly, Quarterly & Annually

Chart 2: Domestic Exports, Re-Exports (RM billion) and Annual Change (%)

Chart 3: Actual Export Value and Seasonally Adjusted Export Value, RM billion

Chart 4: Imports Value (RM billion) and Annual Change (%)

Chart 5: Actual Import Value and Seasonally Adjusted Imports Value, RM billion

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