Malaysia remains confident in achieving its 2025 trade growth target of 4% to 5%, despite rising global trade tensions and the looming implementation of new US tariffs.
Speaking at a quarterly briefing on Tuesday, Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz said export performance during the first five months of the year was bolstered by frontloading activities as businesses accelerated shipments ahead of the anticipated US tariff imposition.
“We are still on track to achieve our trade growth target, which remains within reach,” Zafrul said. “However, we are observing a moderation in global trade momentum, particularly in the second half of the year.”
Earlier this month, the United States announced a sweeping 25% import tariff on all goods from Malaysia, scheduled to take effect on August 1. However, Washington has signalled openness to further negotiations in the interim.
Despite external uncertainties, Malaysia posted record trade figures in 2024. Total trade surged 9.2% year-on-year to RM2.879 trillion, with exports rising 5.7% to RM1.508 trillion and imports climbing 13.2% to RM1.371 trillion.
Zafrul noted that the current focus remains on engaging with key partners and ensuring Malaysia’s competitiveness, particularly in sectors sensitive to external demand and tariff exposure.
