Trade, exports, imports, trade surplus registers record-high monthly value in October
KUALA LUMPUR: Malaysia’s trade continued its remarkable achievement in October 2021, registering another round of record-high monthly value for trade, exports, imports and trade surplus, Senior Minister and Minister of International Trade and Industry Datuk Seri Mohamed Azmin Ali said.
He said total trade expanded by 26.5 per cent to RM202.61 billion compared with October 2020, breaching the RM200 billion mark for the first time and was the ninth consecutive month of double-digit growth since February 2021.
“Exports rose by 25.5 per cent to RM114.43 billion, the 14th consecutive month of year-onyear (y-o-y) expansion since September 2020,” he said in a statement issued by the Malaysia External Trade Development Corporation (Matrade) yesterday.
He said imports was higher by 27.9 per cent to RM88.18 billion and trade surplus increased by 17.9 per cent to RM26.25 billion.
The minister said export growth was boosted mainly by higher shipments of petroleum products, manufactures of metal, electrical and electronic (E&E) products, chemicals and chemical products as well as palm oil and palm oil-based agriculture products.
“Exports of manufactures of metal and E&E products registered the highest monthly value thus far,” he said.
Meanwhile, he said exports to major markets notably Asean, China, the United States (US), the European Union (EU) and Japan recorded double-digit growth with exports to Asean registering the highest monthly value.
Mohamed Azmin said on a month-on-month (m-o-m) basis, trade, exports, imports and trade surplus grew by 3.6 per cent, 3.2 per cent, 4.1 per cent and 0.5 per cent respectively.
He said for the first 10 months of 2021, trade expanded by 23.5 per cent to RM1.805 trillion from the same period last year.
“Exports surpassed RM1 trillion in just 10 months, increasing by 25 per cent to RM1.004 trillion and exceeded overall exports in 2020,” he said.
Additionally, he said exports surpassed the highest annual value ever recorded in 2018.
He said imports rose by 21.8 per cent to RM801.17 billion and trade surplus surged by 39.2 per cent to RM202.58 billion.
“Trade, exports, imports and trade surplus registered the highest value for the period,” he said. — Bernama