Malaysia records 2023 trade worth RM2.64T - Miti

KUALA LUMPUR: Despite a challenging global economic landscape, Malaysia’s trade exceeded RM2 trillion for the third consecutive year to reach RM2.64 trillion in 2023, chalking up a trade surplus of RM214.1 billion over a successive 26-year period since 1998.

Despite a surplus, the 2023 trade figure saw a 7.3 per cent decrease versus a year ago, in tandem with slower global demand, lower commodity prices, geopolitical uncertainties, high inflation rate, downcycle in the semiconductor sector and the high base effect of last year, a statement from the Investment, Trade and Industry Ministry (MITI) said.