KUALA LUMPUR: Malaysia’s trade exports continued to develop, rising 23.5% year-on-year (y-o-y) to RM110.73bil in January 2022 on the again of double-digit development in shipments to main buying and selling companions Asean, China, the US and the EU.
In a press release, the International Trade and Industry Ministry (Miti) mentioned exports recorded double-digit enlargement for a sixth consecutive month since August 2021, underpinned by electrical and digital merchandise and palm oil and palm oil-based agriculture merchandise.
The higher export determine was in tandem with a 24.8% leap in total trade to RM203.05bil and a ten.9% higher trade surplus of RM18.4bil from a yr earlier. The nation’s imports grew 26.4% to RM92.32bil.
Miti reported that in comparison with the previous month of December 2021, trade, exports, imports and trade surplus fell 6.2%, 10.6%, 0.6% and 40.6% respectively because of the excessive base impact and seasonal elements following the brand new yr holidays.
The ministry mentioned all the most important sectors recorded double-digit y-o-y enlargement in January.
Agriculture items noticed the most important share achieve of 75.6% to RM8.77bil whereas exports of item for consumption grew 19.3% to RM94.67bil.
“E&E merchandise, manufactures of metallic, petroleum merchandise, chemical substances and chemical merchandise, palm oil-based manufactured merchandise in addition to equipment, tools and elements every posted over RM1bil improve in exports,” mentioned Miti.
Meanwhile, exports of agriculture items (7.9% share) surged by 75.6% to RM8.77bil and exports of mining items edged 38.4% higher to RM6.82bil on the again of higher exports of liquefied pure gasoline.
For imports, intermediate items jumped 28.3% to RM50.52bil whereas capital items rose 37.7% to RM9.97bil and consumption good climbed 32% to RM8.63bil.
