Malaysia’s total trade soars to new high of RM236.6bil in March

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KUALA LUMPUR: Malaysia’s total trade recorded a double digit progress of 27.3 per cent year-on-year (y-o-y) in March 2022 to attain a new high of RM236.6 billion, the Department of Statistics Malaysia (DOSM) stated.

Export and import values in March as soon as once more broke the file for all-time highs at RM131.6 billion and RM104.9 billion, respectively.

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin stated Malaysia’s imports surpassed the RM100 billion mark for the primary time ever, in line with the surge in intermediate items, signifying a optimistic signal of home financial exercise.

He stated trade surplus widened by 10.3 per cent from RM24.2 billion in the previous 12 months to RM26.7 billion, marking the twenty third consecutive months of trade surplus since May 2020.

“Malaysia’s exports accelerated by 25.4 per cent from RM105.0 billion to RM131.6 billion, surpassing the RM100 billion mark for the seventh consecutive month since September 2021.

“Export worth progress in March 2022 was supported by each home exports and re-exports. Domestic exports had been valued at RM106.9 billion, contributing 81.2 per cent to total exports, selecting up strongly by 22.8 per cent y-o-y.

“Meanwhile, re-exports amounted to RM24.7 billion, expanded by 38.0 per cent in contrast to March 2021,” he stated in an announcement, at this time.

Mohd Uzir stated together with the export efficiency, imports additionally registered a robust progress of 29.9 per cent from RM80.8 billion to RM104.9 billion.

“In comparability to February 2022, the efficiency of total trade, exports, imports and trade surplus confirmed the will increase of 28.1 per cent, 28.7 per cent, 27.3 per cent, and 34.8 per cent, respectively.

“An excellent annual progress in exports was portrayed in 166 out of 255 commodity teams, displaying will increase in contrast to the identical month of the earlier 12 months, led by thermionic valves and tubes. As for imports, 186 of 259 teams posted a optimistic progress,” he added.

Mohd Uzir stated the rise in exports was attributable primarily to greater exports to Singapore (+RM5.1 billion), adopted by Japan (+RM2.1 billion), South Korea (+RM1.8 billion), the European Union (+RM1.8 billion), China (+RM1.7 billion), Taiwan (+RM1.4 billion), Thailand (+RM1.4 billion), Indonesia (+RM1.4 billion), and the United States (+RM1.3 billion).

On high of that, he stated China was a key contributor to the rise in imports, which elevated by RM3.4 billion, adopted by Saudi Arabia (+RM2.9 billion), Taiwan (+RM2.8 billion), Indonesia (+RM2.5 billion), Singapore (+RM2.3 billion), the United States (+RM1.4 billion), and Thailand (+RM1.2 billion).

Mohd Uzir famous that the growth of export was pushed by electrical and electronics merchandise (+RM13.0 billion); petroleum merchandise (+RM4.6 billion); palm oil and palm oil-based agriculture merchandise (+RM3.1 billion); liquefied pure gasoline (+RM2.5 billion); crude petroleum (+RM1.6 billion); and palm oil-based manufactured merchandise (+RM1.1 billion).

Meanwhile, the rise in imports had been famous for electrical and electronics merchandise (+RM7.1 billion); crude petroleum (+RM6.1 billion); petroleum merchandise (+RM3.0 billion); chemical and chemical merchandise (+RM2.2 billion); equipment, gear and components (+RM1.6 billion); metalliferous ores and steel scrap (+RM1.2 billion); and coal (+RM1.2 billion).

On the efficiency for the primary quarter of 2022, the DOSM stated total trade, exports, imports, and trade surplus continued to file sturdy double-digit progress.

It stated the total trade went up by 23.6 per cent, supported by the growth in exports (+22.2 per cent), in addition to imports (+25.2 per cent). Consequently, trade surplus recorded a better worth of RM65.1 billion. – Bernama



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