KUALA LUMPUR: Malaysia’s total trade grew by 26 per cent year-on-year (y-o-y) to RM867.4 billion in the first five months of 2021, the Ministry of International Trade and Industry (Miti) said.
Trade surplus surged by 112.2 per cent to RM92.79 billion, as exports rose by 31.1 per cent to RM480.09 billion and imports increased by 20.1 per cent to RM387.31 billion.
The ministry said the country’s trade performance maintained its upward trend in May 2021 with trade expanding by 48.7 per cent to RM170.88 billion compared to May 2020.
“Exports surged by 47.3 per cent to RM92.31 billion, the ninth consecutive month of y-o-y expansion since September 2020 while imports rose by 50.3 per cent to RM78.57 billion and trade surplus expanded by 32.3 per cent to RM13.74 billion,” it said in a statement today.
Miti said the export growth was contributed mainly by robust demand for electrical and electronic products, mainly semiconductors, due to the increasing orders for work-from-home equipment and digitalisation of businesses, as well as rubber and petroleum products.
All major markets, namely Asean, China, the United States, the European Union and Japan, registered positive export growth.
On a month-on-month basis, trade, exports, imports and trade surplus contracted by 10.4 per cent, 12.6 per cent, 7.8 per cent and 32.5 per cent, respectively. – Bernama