Malaysia's foreign trade nears 50 billion USD in January
Malaysia’s foreign trade turnover hit 203.05 billion RM (48.6 billion USD) in the first month of 2022, up 24.8 percent year on year, according to the Ministry of International Trade and Industry.
A man brows through shelves in a supermarket. (Photo: Bernama)Of the total, the export and import values were 110.73 billion RM and 92.32 billion RM, annual increases of 23.5 and 26.4 percent, respectively. As a result, the January trade surplus stood at 18.4 billion RM, 10.9 percent higher than the figure of the same month last year.
Malaysia’s export expansion was underpinned by higher global demand primarily for electrical and electronic (E&E) products as well as palm oil and palm oil-based agriculture products.
Overseas shipments of manufactured goods, which accounted for 85.5 percent of the total exports, rose 19.3 percent to 94.67 billion RM, recording double-digit growth for the sixth consecutive month since August 2021.
The country’s exports to major trading partners, including the Association of Southeast Asian Nations (ASEAN), China, the US, the European Union (EU), and Japan, also recorded double-digit growth./.
You should also see
HCM City moves towards Net Zero
Ho Chi Minh City is building a project to restructure its industry towards sustainable development in the 2025-2030 period, with a vision to 2050, prioritising the use of high technology and reducing emissions towards net zero emissions by 2050.
See more
World
Thailand’s EV sales forecast to miss target
Electric vehicle (EV) sales in Thailand may fail to reach the estimate of 130,000 units this year as prices are likely to keep changing, according to Hyundai Mobility Thailand.
World
Thailand, EU hope to sign FTA in mid-2025
Before the Songkran holiday, senior officials from Thailand and the European Union (EU) met in Bangkok to discuss ways to promote their relationship, including the framework of the Free Trade Agreement (FTA), green transformation, and Schengen visa waiver, Thai media has reported.
World
India’s trade deficit with ASEAN widens
India's trade deficit with the Association of Southeast Asian Nations (ASEAN) has more than doubled since the implementation of the ASEAN-India Trade in Goods Agreement (AITIGA) in 2010.
World
Malaysia to cut down on petrol subsidies this year
Malaysian Economy Minister Rafizi Ramli has announced that the country will reduce petrol subsidies this year to reduce its fiscal deficit.
World
El Nino thins the only glacier in Indonesia: BMKG
Global warming has played a key role in gradually thinning the glaciers atop Puncak Jaya, Papua, Indonesia, some of the few remaining tropical glaciers in the world, according to Indonesian Agency for Meteorology, Climatology, and Geophysics (BMKG).
