ANN/THE STAR – Malaysia achieved total trade of MYR2.879 trillion in 2024, which was a 9.2 per cent increase over the value of shipments in 2023 on the back of continued growth in both exports and imports.
Exports over the year had rallied 5.7 per cent to MYR1.508 trillion, which accounted for 87.2 per cent of the target set for 2025 exports under the Mid-Term Review of the 12th Malaysia Plan.
Imports climbed 13.2 per cent to MYR1.371 trillion, leading to an annual trade surplus of MYR136.88 billion.
The final tally for the year comes as the Ministry of Investment, Trade and Industry (Miti) released the country’s trade data for December 2024.
During the month, Malaysia posted a 16.9 per cent jump in exports to MYR138.52 billion, ahead of an 11.9 per cent increase in imports to MYR119.34 billion.
The country recorded a trade surplus of MYR19.18 billion, its highest in 14 months, and an overall trade value of MYR257.86 billion, the highest monthly value recorded for December.
According to the ministry, exports to the United States hit all-time highs in 2024, while exports to free trade agreement (FTA) markets returned to an expansion after a period of contraction in 2023.
