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Malaysia’s trade rises 25.5pct to RM195.54 bil in September
KUALA LUMPUR: Malaysia’s trade grew 25.5 per cent year-on-year (YoY) to RM195.54 billion in September from RM155.85 billion recorded in the same period a year ago, according to the Malaysian External Trade Development Corp (Matrade).
In a statement today, the trade promotion agency under the International Trade and Industry Ministry said the stellar performance was the eighth consecutive month of double-digit growth since February.
Matrade said exports maintained above RM100 billion for the fourth time this year, having grown 24.7 per cent to RM110.83 billion in September.
Imports increased 26.5 per cent to RM84.7 billion during the month and trade surplus rose 19.1 per cent to RM26.13 billion.
Matrade said the export growth was contributed mainly by robust external demand for petroleum products, manufactures of metal, palm oil and palm oil-based agriculture products as well as electrical and electronic (E&E) products.
Exports of manufactures of metal, palm oil and palm oil-based agriculture products as well as E&E products registered the highest monthly value thus far.
Matrade said exports to Asean, China, the United States (US) and Japan recorded double-digit growth.
Malaysia’s exports to Asean countries mainly to Singapore (RM16.15 billion), Thailand (RM4.30 billion), Indonesia (RM3.80 billion), Vietnam (RM2.87 billion), Philippines (RM1.95 billion) and Brunei (RM811.6 million).
Major exports in September 2021 included (E&E products), valued at RM41.05 billion and accounted for 37 per cent of total exports, (petroleum products) at RM9.34 billion or 8.4 per cent of total exports, (palm oil and palm oil-based agriculture products) at RM7.76 billion or 7.0 per cent of total exports, (manufactures of metal) at RM6.76 billion or 6.1 per cent of total exports, (chemicals and chemical products) at RM6.04 billion or 5.5 per cent of total exports.
On a month-on-month basis, trade, exports, imports and trade surplus recorded double-digit growth of 15.2 per cent, 16 per cent, 14.2 per cent and 22.2 per cent respectively.
Matrade said Malaysia’s trade in the third quarter (Q3) of 2021 grew 18.1 per cent YoY to RM546.21 billion with exports increased 15.8 per cent to RM303.74 billion, while imports expanded 21 per cent to RM242.47 billion.
However, the country’s trade surplus eased 1.1 per cent to RM61.28 billion in Q3.
For the first nine months of 2021, Malaysia’s trade expanded 23.2 per cent YoY to RM1.6 trillion from RM1.3 trillion recorded in the same period last year.
Exports grew 24.9 per cent YoY to RM889.32 billion, while imports rose by 21.1 per cent to RM712.99 billion and trade surplus surged by 43.1 per cent to RM176.33 billion during the period.
Source: https://www.nst.com.my/business/2021/10/740455/malaysias-trade-rises-255pct-rm19554-bil-september