Kuala Lumpur (VNA) - Malaysia's trade eased slightly by 1.9% year-on-year to 247.07 billion MYR (58.8 billion USD) in August amid shifting global trade conditions.
Exports, however, rose for the second consecutive month, expanding 1.9% to 131.6 billion MYR, according to the Investment, Trade and Industry Ministry (MITI).
Imports fell 5.9% to 115.47 billion MYR, producing a trade surplus of 16.13 billion MYR, the 64th consecutive month of surplus since May 2020 and a 153.8% jump from August last year.
The ministry said export growth in August this year was driven by strong performances in both manufactured and agriculture goods.
According to MITI, agriculture exports rebounded from the decline in July, while the main contributors were electrical and electronic products, machinery, equipment and parts, optical and scientific equipment, and palm oil and palm oil-based products. Notably, exports of optical and scientific equipment recorded their highest value to date.
For the cumulative period of January–August, Malaysia recorded its highest-ever trade values. Total trade rose 3.8% year-on-year to 1.977 trillion MYR.
Exports grew 3.9% to 1.03 trillion MYR, surpassing the 1 trillion MYR mark a month earlier than in 2024, while imports expanded 3.6% to 945.62 billion MYR, generating a trade surplus of 86.07 billion MYR.
The ministry noted that while January-August overall trade performance remained resilient, exporters are strongly encouraged to improve and diversify their product offerings.
It said they must also strengthen supply chain efficiencies to mitigate the transitional effects of shifts in trade policies and uncertainties in the global trading landscape.
It added exporters are also encouraged to utilise the 18 Free Trade Agreements that Malaysia has ratified with various countries and economies./.
