PENANG recorded a 71.8% increase in exports to RM605.86 billion in the first eight months of this year, compared with RM352.72 billion in the corresponding period last year.
State executive councillor for Trade and National Unity, Goh Choon Aik, said imports also rose by 43.2% to RM350.19 billion from RM244.61 billion over the same period, resulting in a trade surplus of RM255.67 billion, up from RM108.12 billion previously.
He said Penang’s exports totalled RM573.91 billion in 2025, an increase of 19.6% from the previous year, while imports amounted to RM382.46 billion, up 15.6%.
“These figures reflect Penang’s increasingly important position in Malaysia’s international trade,” Goh (PH-Bukit Tambun) said in his reply to an oral question from Joseph Ng Soon Siang (PH-Air Itam) at the State Legislative Assembly sitting today.
The United States was Penang’s largest export market during the eight-month period, with exports valued at RM175.13 billion, representing growth of 118.6%.
Other major markets were Taiwan (RM76.99bil), Hong Kong (RM76.11bil), China (RM74.34bil), and Singapore (RM37.35bil).
Goh also highlighted strong export growth to Mexico and the Netherlands.
Exports to Mexico increased 163.9% to RM18.08 billion, while those to the Netherlands rose 151.2% to RM22.87 billion.
He said export promotion efforts should continue to strengthen key markets, including the United States, Taiwan, Hong Kong and China, while capitalising on growth opportunities in other markets.
On foreign direct investment (FDI), Goh said most foreign-invested companies in Penang were export-oriented.
Citing information from InvestPenang, he said the state had an estimated 116 companies from the United States, 69 from Japan, 62 from China, including Hong Kong and Taiwan, 38 from Singapore, 23 from Germany, 38 from other European Union countries and 43 from other countries.
In response to Ng’s supplementary question on the benefits Penang derived from export-oriented industries, Goh said their contributions extended beyond product sales to international markets and export duties.
He said the industries generated wider economic benefits by creating jobs, increasing household incomes and opening up business opportunities for local small and medium enterprises (SMEs) in fields such as engineering, maintenance, packaging, logistics and professional services.
They also facilitated technology transfer, enhanced workforce skills and stimulated domestic economic activity through business growth and investment.
Goh added that the state government benefited from related revenue sources, including quit rent and assessment rates, subject to the relevant legal provisions.
On infrastructure, he said the Federal government had supported several projects in Penang, including road upgrading works around Bukit Tambun, the upcoming Mount Erskine Underpass and the Juru-Sungai Dua traffic dispersal project.
He said the Penang State Budget 2027 also prioritised projects to improve transport connectivity, including the Mutiara Line light rail transit (LRT), the Penang International Airport Link Road and the road link to Silicon Island.
Under Rolling Plan Two (RP2) of the 13th Malaysia Plan (13MP) for 2027, a total of 280 Federal development projects worth RM33.22 billion had been approved for Penang, with RM2.68 billion allocated for the year.
Goh expressed appreciation to the Federal government for its support and development allocations, adding that the state wanted to ensure Penang’s contribution to international trade translated into tangible benefits for local businesses and the well-being of its people.
Story by K.H. Ong