Illustrative image (Photo: AFP) Hanoi (VNA) – The Malaysian Ministry of International Trade and Industry (MITI) announced in a press release on March 20 that the total trade value of the Southeast Asian economy in February increased 11% annually, reaching 204.99 billion RM (45.68 billion USD).
Of the figure, exports hiked by 9.8% to 112.28 RM while imports rose by 12.4% to 92.71 billion RM. Notably, its trade surplus has been increasing for 34 consecutive months since May 2020, with a value of 19.56 billion RM.
MITI stated that trade, export and import reached the highest levels in February, with export growth being supported by crude oil, liquefied natural gas, electrical and electronic (E&E) products.
According to the ministry, Malaysia's exports to key partners, especially ASEAN and the US, recorded double-digit growth. In February, Malaysia's trade with ASEAN partners accounted for 27.4% of its total trade value, up 10% year-on-year to 56.14 billion RM. Of which, exports rose by 14.8% to 33.69 billion RM, marking the 19th consecutive month with a double-digit growth rate. Meanwhile, imports also went up 3.5% to 22.45 billion RM./.
