29 Spurring Exports In The New Norm Trade Performance Report 01 02 03 04 05 In 2020, exports of manufactured goods with a value of RM849.5 billion, accounted for a larger share of total exports at 86.3%, an increase of 1.1%. Electrical & electronic (E&E) products were the biggest contributor to manufactured exports, with a 39.3% share or RM386.29 billion, a growth of 3.5%. Manufactured products that recorded significant export growth for 2020 were rubber products, E&E products, other manufactures mainly solid-state storage devices (SSD), optical and scientific equipment as well as iron and steel products. Major trade highlights of 2020: Recorded average monthly export value of RM81.99 billion Largest trade surplus ever registered RM183.35 billion (↑25.9%) E&E products remained as the largest export products, valued at RM386.29 billion or 39.3% share of Malaysia’s total exports China remained as Malaysia’s largest export market, with exports expanding by 13% to RM159.22 billion, the highest value thus far Third highest export value recorded, RM983.83 billion (the highest was in 2018: RM1.004 trillion, followed by 2019: RM995.07 billion) Exports of rubber products recorded strong growth of 71.4% to RM44.3 billion, in tandem with rising global demand for personal protective equipment (PPE) Exports grew to the emerging markets such as Costa Rica, Kenya, Nigeria, Ghana, Cote d’Ivoire and Kazakhstan Exports to the US registered a doubledigit growth of 13% to RM109.08 billion, the highest export value in the last decade 55% of EXPORTS 54.4% of IMPORTS Singapore 14.4% Singapore 9.2% US 11.1% US 8.7% Hong Kong SAR 6.9% Japan 7.7% Japan 6.4% Taiwan 7.2% China 16.2%* China 21.5%* * Share Exports of Manufactured Goods 1.1% RM849.5 billion Exports of E&E Products 3.5% RM386.29 billion
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