Spurring Exports In The New Norm MATRADE Organisation 11 01 02 03 04 05 The COVID-19 pandemic which resulted in travel restrictions impacted MATRADE’s approach in implementing exporter development and export promotion initiatives. MATRADE took advantage of digitalisation efforts and employed alternative methods in all its programmes such as hybrid exhibitions, virtual business matching between Malaysian companies and foreign buyers through eBizMatch and webinars. This effort enabled companies to continue export promotional activities during the pandemic. In tandem with the unfavourable external environment due to the impact of COVID-19 pandemic, exports decreased marginally by 1.1% to RM983.83 billion, from the preceding year. Imports declined by 5.8% to RM800.48 billion while total trade contracted by 3.3% to RM1.784 trillion. Despite this unprecedented scenario, Malaysia’s external trade performed fairly well with exports rebranding by 5.2% in the second half of 2020 as compared to the negative growth of 7.7% recorded in the first half of the year. This could be attributed to the progressive opening of the economy and gradual recovery of external demand. 2020 ACHIEVEMENTS MATRADE implemented various efforts to achieve its founding objectives which encompass exporters development and export promotions. These efforts involve exporter capacity building programmes, dissemination of trade information and the provision of advisory and support services. MATRADE possesses a database of over 25,000 Malaysian companies conducting export-oriented businesses. These companies are assisted in to ensure export growth of Malaysian products and services. MATRADE also continues to offer a new strategic direction to Malaysian companies with emphasis on sustainability and long-term growth. MATRADE will remain committed towards strengthening the country's economy as well as act as the leading organisation in steering and advancing the country's export activities in the future. Malaysia’s trade surplus continued to register double-digit growth for four consecutive years, widening by 25.9% to RM183.35 billion compared to RM145.66 billion in 2019. This was the largest trade surplus ever recorded, representing Malaysia’s achievement in sustaining trade surplus for 23 consecutive years, since 1998. Malaysia’s trade grew with China, the United States (US), the Republic of Korea (ROK), Bahrain and Hong Kong SAR. However, lower trade was recorded with Thailand, Singapore, Australia, India and Viet Nam. Malaysia’s trade recorded an average annual trade growth of 6% for the period between 2000 to 2020.
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