Malaysia’s external trade reached RM236 billion in December 2022, the Department of Statistics Malaysia reported on 28 January 2023, marking an 8.6 per cent rise from the same month a year earlier. Exports grew 6.0 per cent to RM131.9 billion while imports climbed 12.0 per cent to RM104.1 billion, yielding a trade surplus of RM27.8 billion. The performance capped a record calendar year in which total trade hit RM2.8 trillion, the highest annual figure on record.
Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said the December result pushed 2022 trade past the previous benchmark. “Malaysia’s total trade in 2022 recorded a new milestone to reach RM2.8 trillion,” he noted in the statement.
The expansion was broad-based: electrical and electronic products, petroleum products, palm oil, and chemicals all contributed to the outbound gain, while inbound shipments were lifted by stronger demand for intermediate and capital goods. The 12-month stretch was the first time the country cleared the RM2 trillion mark within a single calendar year. State-level data show that 11 of 15 states and federal territories posted higher exports in December.
Johor added RM4.3 billion, the largest increment, driven by refined petroleum and integrated circuits. Sarawak ranked second with an extra RM2.2 billion on stronger liquefied natural gas and timber shipments.
Selangor, Labuan, Negeri Sembilan, Perak and Kedah each booked rises between RM180 million and RM1.4 billion. Smaller gains were logged by Melaka, Kelantan, Kuala Lumpur and Perlis, together contributing about RM270 million. The widespread increases offset contractions in Sabah, Pahang, Terengganu and Penang.
Although Penang’s December exports slipped RM93 million compared with December 2021, the island state retained the largest share of national exports at 30.8 per cent. Johor followed with 19.2 per cent, Selangor 17.8 per cent, Sarawak 9.1 per cent and Kuala Lumpur 4.7 per cent. Penang’s outbound shipments were led by semiconductors and other electronic components that feed global supply chains, while Johor’s refining and petrochemical clusters continued to attract overseas orders.
The concentration of high-value sectors in these two states underpins their outsized roles in Malaysia’s trade ledger. Imports expanded twice as fast as exports in December, reflecting higher input costs and robust domestic activity.
Selangor topped the list with a 27.2 per cent share of inbound goods, followed by Penang at 21.9 per cent and Johor at 20.8 per cent. Johor’s imports jumped RM5.1 billion, Selangor added RM2.7 billion and Melaka RM1.8 billion. The rise was led by machinery, electronic parts and chemicals, signalling that firms were restocking and expanding capacity ahead of an anticipated pickup in external demand during 2023.
The wider import gap trimmed the monthly trade surplus to RM27.8 billion from RM31.3 billion in November, yet still left the full-year surplus above RM250 billion. Not all regions shared in the December upswing.
Sabah’s exports fell RM1.7 billion, mainly on lower crude oil volumes and prices. Pahang and Terengganu each lost more than RM500 million, hit by reduced shipments of palm oil and petrochemicals. The declines mirror global commodity cycles and temporary plant maintenance shutdowns, according to state industry reports.
Still, the east-coast states recorded positive growth for the full year, supported by strong performances earlier in 2022. Officials expect upstream energy projects and new oleochemical investments to revive momentum in 2023. The December data round out a historic year for Malaysian trade, one in which resilient electronics demand and elevated commodity prices combined to lift both exports and imports to uncharted territory.
While the pace of import growth outstripped exports in the final month, the country maintained a comfortable surplus and entered 2023 with record foreign-sales footprints in key markets. How quickly global tech demand steadies and whether energy prices stabilise will shape the next chapter, but the baseline is now set well above pre-pandemic levels.
