The growth in the merchandise trade between Malaysia and India has reached an all-time high, with over US$10 billion worth of trade transacted for the year 2011. Total trade between Malaysia and India for 2011 was US$12.54 billion, an increase of 40% compared to US$8.98 billion in 2010. This impressive growth has been predominantly attributed to the burgeoning economies of both nations and the strengthening of bilateral trade between the two countries.
Beginning with an exponential rise in the tourism, the relationship between the two countries has been further enhanced, opening new avenues for Malaysia and India to benefit mutually from each other’s economies. Over the past 10 years, trade between Malaysia and India has seen a healthy average growth rate of over 15.6% p.a.
In spite of a slowdown in the global trading scenario, Malaysia has shown signs of rapid growth, recording a total trade value of US$415 billion in 2011 – the highest ever achieved. For the 14 thconsecutive year, Malaysia has recorded a trade surplusfigure of US$39 billion – a growth rate of 9.4% for the year 2011. The merchandising trade has registered an impressive growth of 8.7% p.a. with exports from Malaysia growing to US$226.98 billion, while imports recorded a figure of US$187.66 billion – an 8.6% rise. This notable feat is at par with other developed countries in the region, like Singapore and ROK, which have registered similar records.
According to the World Competitiveness Yearbook 2011 Report by the Institute for Management Development (IMD), Malaysia has been ranked among the Top 5 countries in terms of international trade, after Singapore and Hong Kong. Malaysia has now surpassed most of the developed countries such as the USA, Switzerland, Australia, Canada and the United Kingdom, in terms of international trade.