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Malaysia-Indonesia trade sees 43.5% jump

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Exports to the Asean neighbour amount to almost RM40 billion.

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Free Malaysia Today
Malaysia’s imports from Indonesia amounted to RM55.88 billion last year, compared with RM39.22 billion in exports to the Asean neighbour.

KUALA LUMPUR:
Trade between Malaysia and Indonesia rose 43.5% to RM95.1 billion last year compared with 2020.

Total exports to Indonesia was up 32.5% to RM39.22 billion while total imports saw a 52.3% improvement to RM55.88 billion in the same period, according to the Malaysia External Trade Development Corporation (Matrade).

This made Indonesia the seventh largest trading partner for Malaysia. Within Asean, Indonesia is Malaysia’s third largest trading partner, Matrade director of Asean and Oceania Raja Badrulnizam Kamalzaman said in his keynote address at the Business Strategy Analysis Indonesia Conference 2022 at Matrade Exhibition & Convention Centre today.

The three-day event brings together industries such as green energy, palm oil, oil and gas, food and beverages, pharmaceuticals, cosmetics, internet of things, home furniture, minerals, training and education, manpower, machinery, industrial or special economic zone development, tourism and construction materials.

Organiser Axon Consultancy Sdn Bhd managing director Low Jiun Jack said the event is designed to deliver services beyond conferences.

“Indonesia is the first country we are focusing on for immediate business strategy planning and implementation and our aim for this programme is to provide a platform for all participants to develop businesses beyond boundaries.

“Indonesia has a lot to offer to Malaysian businesses such as solar streetlighting. I forecast RM30 million worth of exports within the year 2022 until 2023,” he told Bernama after the event.

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