Malaysia's June exports rise 29.3 percent on year

Illustrative photo (Photo: The Star Online)

Kuala Lumpur (VNA) – Malaysia’s exports in June rose 29.3 percent year-on-year to 188.7 billion RM (about 44.55 billion USD), according to the Ministry of International Trade and Industry (MITI).

The ministry said in a statement on July 28 that exports recorded the 10th consecutive month of year-on-year expansion since September last year, registering a growth of 27.2 percent to 105.47 billion RM.

It attributed the export growth to strong demand for petroleum products, electrical and electronic (E&E) products, mainly electronic integrated circuits used in the production of smartphones, cars, computers and home appliances as well as rubber products.

Exports to all major markets namely ASEAN, China, the United States, the European Union and Japan recorded double-digit expansion, the ministry said.

Meanwhile, imports of Malaysia in June rose by 32.1 percent to 83.23 billion RM and trade surplus expanded by 11.7 percent to 22.24 billion RM.

In the first half of this year, Malaysia’s total trade turnover increased by 26 percent year-on-year to 1,056 billion RM. Of which, exports rose by 30.2 percent to 585.56 billion RM and imports up 21.1 percent to 470.53 billion RM./.