Malaysia's trade turnover posts double-digit growth for 20 consecutive months
Malaysia’s Ministry of International Trade and Industry (MITI) said the nation’s trade continued its upward trajectory in September 2022, up by 31.4% year on year to 256.91 billion RM (54.43 billion USD), marking the 20th consecutive month of double-digit growth.
Illustrative image (Photo: https://www.nst.com.my/)As reported by the country’s news agency Bernama, the ministry said exports increased by 30.1% to 144.31 billion RM, marking the 14th successive month of double-digit growth, while imports expanded by 33% to 112.60 billion RM.
As a result, Malaysia’s trade surplus achieved a new record high of 31.71 billion RM.
MITI largely attributed the export growth to robust external demand for electrical and electronic (E&E) products, petroleum products, liquefied natural gas (LNG), crude petroleum, optical and scientific equipment as well as machinery, equipment and parts.
Malaysia’s exports to major trading partners, notably ASEAN, the US, the EU, and Japan, recorded double-digit growth, with the figure for Japan registered the highest monthly value ever./.
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