Malaysia remains 9th largest global exporter of high-tech products
Malaysia’s high-tech exports increased by 2 billion USD to reach 127 billion USD in 2023. He said high-tech exports comprised 58.69% of total manufacturing exports in 2023, up from 52.48% recorded in 2022.
Kuala Lumpur (VNA) - Malaysia successfully maintained its position as the ninth-largest exporter of high-tech goods out of 143 countries worldwide in 2023, the highest recognition it has achieved in the past decade, the country’s national news agency Bernama has reported.
At the launch of the Malaysia High Technology Performance Report 2023, Datuk Seri Hasnol Zam Zam Ahmad, secretary-general of the Malaysian Ministry of Science, Technology and Innovation (MOSTI), said that Malaysia’s high-tech exports increased by 2 billion USD to reach 127 billion USD in 2023. He said high-tech exports comprised 58.69% of total manufacturing exports in 2023, up from 52.48% recorded in 2022.
He also noted that the country recorded its highest trade surplus in a decade, totalling 51.5 billion USD.
Measuring the value of Malaysia’s high-tech exports is not an easy task, he said. First and foremost, the definition of ‘high technology’ must comply with international standards, including those set by the Organisation for Economic Cooperation and Development (OECD) and the World Bank.
Hasnol Zam Zam emphasised MOSTI’s commitment to expanding and strengthening the national innovation ecosystem to ensure sustained competitiveness across all development sectors, especially in high technology.
In addition, he mentioned that several international institutions also use high-tech export indicators as a key💧 measure to assess a country’s competitiveness and innovation 🧔capacity./.
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