KUALA LUMPUR, Jan 29 (NNN-Bernama) — Malaysia\u2019s total trade in 2020 amounted to US$444.10 billion (RM1.8 trillion, US$1 = RM4.05), down 3.6 per cent year-on-year (y-o-y), while trade surplus widened by 26.9 per cent to RM184.8 billion, making it the largest trade surplus ever recorded thus far, the Department of Statistics Malaysia (DOSM) said.<\/p>\n\n\n\n
Chief statistician Dr Mohd Uzir Mahidin said in tandem with softer global demand and unfavourable external economic conditions due to the COVID-19 pandemic, total exports in 2020 contracted by 1.4 per cent to RM981.0 billion from the preceding year, while imports declined by 6.3 per cent or RM53.2 billion to RM796.2 billion.<\/p>\n\n\n\n
He said December 2020 recorded the highest monthly export value of RM95.7 billion, up by 10.8 per cent from the same month in 2019, outpacing import growth for eight consecutive months.<\/p>\n\n\n\n
Mohd Uzir said after nine consecutive months of decline, imports rebounded to post a growth of 1.6 per cent to RM75.0 billion.<\/p>\n\n\n\n
\u201cMalaysia\u2019s exports continued its positive momentum in December 2020. The expansion in exports was supported by both re-exports and domestic exports.<\/p>\n\n\n\n
\u201cRe-exports stood at RM17.6 billion, up 22.9 per cent, and contributed 18.4 per cent to the total exports, while domestic export was valued at RM78.1 billion, recording a growth of 8.3 per cent y-o-y,\u201d he said in a statement Friday.<\/p>\n\n\n\n
The trade surplus soared by 64.9 per cent to RM20.7 billion y-o- y, he noted.<\/p>\n\n\n\n
Mohd Uzir said Malaysia’s export expansion was supported mainly by higher export to Singapore (+RM2.2 billion), China (+RM1.9 billion), the United States (+RM1.7 billion), India (+RM1.62 billion), Hong Kong (+RM1.60 billion), and the European Union (+RM988.1 million).<\/p>\n\n\n\n
The main products which contributed to the increase in exports were electrical and electronics products (+RM5.6 billion); rubber products (+RM3.0 billion) and palm oil and palm oil-based agriculture products (+RM2.6 billion).<\/p>\n\n\n\n
Meanwhile, increases in imports were mainly from China (+RM2.1 billion), India (+RM772.9 million), Hong Kong (+RM518.7 million) and Taiwan (+RM466.0 million).<\/p>\n\n\n\n
The expansion in imports was noted for electrical and electronics products (+RM2.7 billion) and chemical and chemical products (+RM734.7 million).<\/p>\n\n\n\n
— NNN-BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"
KUALA LUMPUR, Jan 29 (NNN-Bernama) — Malaysia\u2019s total trade in 2020 amounted to US$444.10 billion (RM1.8 trillion, US$1 = RM4.05), down 3.6 per cent year-on-year (y-o-y), while trade surplus widened by 26.9 per cent to RM184.8 billion, making it the largest trade surplus ever recorded thus far, the Department of Statistics Malaysia (DOSM) said. Chief […]<\/p>\n","protected":false},"author":27,"featured_media":93662,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[288,300,318],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/111438"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=111438"}],"version-history":[{"count":0,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/111438\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/93662"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=111438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=111438"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=111438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}