How has trade between Malaysia and Saudi Arabia grown recently?

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Bilateral Trade Between Malaysia and Saudi Arabia Shows Significant Growth

Total trade between Malaysia and Saudi Arabia experienced a substantial increase in 2022, reaching RM45.52 billion. This figure represents a 159.2 per cent surge compared to the RM17.56 billion recorded in 2021. The Kingdom of Saudi Arabia continues to hold its position as Malaysia’s largest trading partner and the primary source of imports from the West Asian region.
Surge in Trade Value

The value of trade between Malaysia and Saudi Arabia more than doubled from 2021 to 2022. In 2021, the total trade volume stood at RM17.56 billion, which then escalated to RM45.52 billion in the subsequent year. This dramatic expansion signifies a robust deepening of economic ties between the two nations.
Saudi Arabia's Prominent Trade Position

The Kingdom of Saudi Arabia's importance in Malaysia's trade landscape is underscored by its status as the largest trading partner. This distinction is not only in overall trade volume but also in terms of import sources from the West Asian region. This consistent position highlights the strategic economic relationship.
Context of Diplomatic Engagements

This period of significant trade growth coincides with active diplomatic engagements. For instance, the Malaysian Foreign Minister, Datuk Seri Zambry Abd Kadir, undertook an official visit to Saudi Arabia from February 19 to 23. During this visit, discussions were held to expand bilateral cooperation, including exploring new economic potentials and fostering business and investment partnerships. These diplomatic efforts are aimed at further strengthening the long-standing relationship and commitment between the two governments.

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How has trade between Malaysia and Saudi Arabia grown recently?

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