September exports hit record monthly high of RM110.83bil


KUALA LUMPUR: Double-digit growth in Malaysia's September exports to Asean, China, the US and Japan boosted the country's total exports by 24.7% to a new monthly high of RM110.83bil.

On the back of the improved export performance, trade surplus grew 19.1% y-o-y to a record monthly value of RM26.13bil, International Trade and Industry Ministry (Miti) data shows.

September's performance also contributed to a record quarter for exports, which rose 15.8% y-o-y to RM303.74bil in 3Q.

Meanwhile, imports in September climbed 26.5% y-o-y to RM84.7bil, bringing the country's total trade in September to a monthly record of RM195.54bil, up 25.5% from a year ago.

According to Miti, the export growth in September was contributed mainly by robust external demand for petroleum products, manufactures of metal, palm oil and palm oil-based agriculture products as well as electrical and electronic (E&E) products.

"Exports of manufactured goods in September 2021 reached its highest monthly value at RM94.86bil or 85.6% of total exports, grew by 21.6% y-o-y.

"Petroleum products, manufactures of metal, E&E products, chemicals and chemical products, palm oil-based manufactured products, other manufactures especially solid-state storage devices (SSD) as well as iron and steel products respectively registered more than RM1 billion expansion in exports," said Miti.

Meanwhile, exports of abriculture goods recorded a 47.7% jump to its highest monthly value of RM9.67bil while mining goods exports surged 48.1% y-o-y to RM5.93bil.

By market, exports to China grew 19% to RM18.52bil in September, its highest-ever monthly value on an increase in shipments of metal, iron and steel product manufactures as well as LNG.

Shipments to Asean expanded 31.4% to RM30.28bil, while exports to the US and Japan grew 19.2% to RM12.31bil and 11.7% to RM11.39bil respectively.

Of Malaysia's major trading partners, exports to the European Union saw the least growth of 3% to RM8.89bil

On imports in September, there was a 29.7% increase in intermediate goods to RM43.2bil, representing 51% of total imports.

Capital goods, representing 10.8% of all imports, increased 20.3% to RM9.17bil.

Imports of consumption goods rose 3.7% to RM6.88bil, or 8.1% of total imports.

September trade dataSeptember trade data
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Miti , export , import , trade

   

Next In Business News

CPO futures likely to trade lower next week
China's industrial profits growth accelerates in Oct
New COVID variant Omicron triggers global alarm, market sell-off
Top US diplomat for Asia to visit Malaysia and three other ASEAN countries
Oil settles down US$10/bbl in largest daily drop since April 2020
Black Friday draws US shoppers but many shun stores for online
Stocks tumble on new coronavirus variant fear
China traders ramp up leverage in bet PBoC to stay on sidelines
Indonesia jobs law ruling may dim investment outlook
Investing in a tough 2022

Others Also Read


Vouchers