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Old Posted Aug 30, 2021, 2:00 PM
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Malaysia's total trade 13% higher y-o-y at RM180.96b in July — MITI
Bernama August 27, 2021 14:35 pm +08
KUALA LUMPUR (Aug 27): Malaysia’s trade performance continued its growth momentum in July 2021, with total trade increasing by 13% year-on-year (y-o-y) to RM180.96 billion, marking the sixth consecutive month of double-digit growth since February 2021.

According to the Ministry of International Trade and Industry (MITI), exports grew by 5% to RM97.32 billion, the 11th consecutive month of y-o-y expansion since September 2020, while imports rose by 24% y-o-y to RM83.64 billion.

“On that note, the trade surplus contracted 45.8% to RM13.68 billion,” it said in a statement today.

MITI said the export growth was backed by higher shipments of petroleum products, palm oil and palm oil-based agriculture products as well as chemicals and chemical products driven by robust external demand.

Exports to major markets, namely ASEAN, the European Union (EU) and Japan, recorded positive growth.—-miti
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