Malaysia’s Trade Makes History, Breaches RM2 Trillion Mark

If there is a bright spot in Malaysia’s bleak 2021 it must be the resilience of your industrial spirit, the country’s lockdown measures and global border closures did not deter Malaysian companies from getting their good to those shores. Such is the demand for the country’s made goods that for the first time in our trade history that we breached the RM2 trillion mark!

This welcoming message was shared by the Senior Minister and International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali, who added that trade expanded 24.6 percent year-on-year to RM2.01 trillion for the January-November 2021 period. He said Malaysia also attracted a total of RM177.8 billion approved investments in the manufacturing, services, and primary sectors in the first 9 months of the year, representing an outstanding 51.5 percent jump compared to the same period in 2020. 

Pointing to critics and naysayers, the Minister couldn’t resist but to call them out “all said, despite the ominous misgivings of doomsday pundits and naysayers, our trade performance and foreign direct investment success for 2021 have placed us on the right track for sustainable, strong and prosperous economic growth,”

With recovery well on track and 2022 not expected to be as smooth as many would want with the persistence of a new variant of the virus and who knows of any new mutation appearing, Malaysia is focused on and steadfast on its objective and goals. The Ministry will redouble its efforts for 2022 to ensure the country remains competitive through greater economic complexity as the global economic outlook remains challenging amid uncertainty and volatility. 

His new year message was clear and concise, with the resolution to strategise, drive the digital economy, green technology, and Fourth Industrial Revolution sectors. The forward agenda will be on National Investment Aspirations and implement the environmental, social, and governance agenda in order to generate the investment ecosystem so crucial in attracting high quality, technology-oriented investment and ensuring long-term sustainability and creating high-skilled jobs.

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