Malaysia’s High Technology Merchandise Export Performance 2023
Over the past decade, Malaysia has made significant advancements in the global high-tech sector. In 2024, MIGHT published its annual findings on Malaysia’s 2023 performance in the export of high- tech merchandise. In 2023, Malaysia achieved a historic milestone, ranking 9 th globally in high-tech merchandise exports. Malaysia’s high-tech merchandise export values surged by USD2.0 billion to USD127.0 billion, while the proportion of manufactured exports rose from 52.48% in 2022 to 58.69% in 2023. This achievement highlights the innovation and dedication within Malaysia’s technology sector, supported by MIGHT’s strategic initiatives. It demonstrates how concentrated efforts can significantly enhance a nation’s global technological standing. Every year, the World Bank publishes two key high-tech related metrics, that is (i) Malaysia’s high-tech merchandise export values in USD and (ii) our high-tech merchandise exports as a percentage of total manufactured exports. These metrics help to guide Malaysia’s strategic direction. Since 2018, MIGHT has been tracking these two high-tech indicators to ensure that Malaysia’s data is being accurately published. This verification process is crucial, as there were two occasions when MIGHT has discovered that Malaysia’s high-tech merchandise export data, published by the World Bank, were erroneous. Once in 2017 and the other in 2022. In both occasions, MIGHT reported the incidences to the World Bank, and Malaysia’s high- tech merchandise export data was promptly corrected. Therefore, it is paramount that Malaysia’s high- tech export data, published by reputable institutions such as the World Bank, be independently verified to ensure accuracy and accountability. MIGHT is currently playing this critical verification role for Malaysia.
Electronics Telecommunications $102.36bn (80.58%) ScientiÞc Instruments $9.58bn (7.54%)
MALAYSIA’S HIGH TECHNOLOGY MERCHANDISE EXPORT PERFORMANCE
Malaysia’s Total High-Tech Merchandise Export by Product Group
$9.04bn (7.12%) Electrical Machinery $3.21bn (2.53%) Aerospace $0.51bn (0.41%)
Key Takeaways - In 2023, the world’s total export values in high-tech merchandise has reached a new height at USD3.83 trillion. As in previous years, China maintained its lead as the world's largest exporter of high-tech merchandise in 2023, capturing over one-fifth (or 21.53%) of the world’s total high-tech exports. - Malaysia maintained its 9th position among 143 economies in the global ranking for high-tech merchandise exports in 2023, unchanged from the previous year, and the world’s share of high-tech exports has reduced slightly to 3.32%. - Malaysia did well in 2023 with positive improvements in the two key high-tech export indicators, (i) high-tech export values of USD127 billion; and (ii) high-tech exports as a % of manufactured exports of 58.69% - The Electronics Telecommunications product group remains the top contributor to Malaysia’s high-tech exports, accounting for over 80.5% of the total high-tech export value in 2023 and 84.6% of the high-tech trade surpluses.
Among the nine groups of high-tech products, the Electronics Telecommunication product group remained the top contributor to Malaysia’s high-tech merchandise exports in 2023, amounting to USD102.36 billion (or 80.58%) and a year-on-year growth of 6.2%.
MALAYSIA’S HIGH TECHNOLOGY MERCHANDISE EXPORT PERFORMANCE | 2023
Annual Report 2024 54
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