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
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