KUALA LUMPUR, Oct 28 (NNN-XINHUA) – Malaysia’s exports grew by 24.7 percent, year on year, to 110.83 billion ringgit (about 26.67 billion U.S. dollars) in Sept, as exports to China registered the highest monthly value ever, official data showed today.
The export growth 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, the International Trade and Industry Ministry (MITI), said in a statement.
Malaysia’s exports to ASEAN, China, the United States and Japan also recorded double-digit growth.
Meanwhile, Malaysia’s trade in Sept expanded by 25.5 percent, year on year, to 195.54 billion ringgit.
Imports in Sept increased by 26.5 percent to 84.7 billion ringgit and trade surplus rose by 19.1 percent to 26.13 billion ringgit.
As for the third quarter, Malaysia’s total trade grew by 18.1 percent year on year, to 546.21 billion ringgit, with exports increased by 15.8 percent to 303.74 billion ringgit, imports expanded by 21 percent to 242.47 billion ringgit.
For the first nine months of 2021, Malaysia’s trade expanded by 23.2 percent to 1.602 trillion ringgit, with exports grew 24.9 percent to 889.32 billion ringgit, imports rose 21.1 percent to 712.99 billion ringgit.
In Sept, Malaysia’s trade with China, which made up 19.7 percent of its total trade, grew by 24.6 percent year on year, to 38.45 billion ringgit, the 10th consecutive month of double-digit expansion.
Malaysia’s exports to China recorded a double-digit growth of 19 percent to 18.52 billion ringgit, the highest monthly value thus far, due to higher exports of manufactures of metal, iron and steel products, as well as, liquefied natural gas (LNG).
Malaysia’s imports from China for the month also increased by 30.3 percent year on year, to 19.93 billion ringgit.
As for the nine months of 2021, Malaysia’s trade with China rose by 27.4 percent year on year, to 304.1 billion ringgit.
Malaysia’s exports to China for the period grew 19 percent to 137 billion ringgit on account of higher exports of E&E products, manufactures of metal, LNG as well as chemicals and chemical products.
Its imports from China for the period also increased by 35.1 percent to 167.09 billion ringgit. (1 U.S. dollar equals 4.15 ringgit)– NNN-XINHUA
