Malaysia’s trade volume writes a new high in April

(Kuala Lumpur, 28 April) The country’s trade, export and import values reached a new high in April, with the value of exports surging 63 percent year-on-year to RM105.62 billion, the fastest growth rate since February 1998 and the eighth consecutive month of year-on-year growth since September 2020.

The Ministry of Trade and Industry today issued a statement that compared with the same period last year, the total trade volume in April this year increased by 43.2% to RM190.76 billion. Imports grew 24.4% year-on-year to RM85.14 billion, exports remained above RM100 billion for two consecutive months, and the trade surplus surged more than 6.6 times to RM20.48 billion.

The Ministry of Trade and Industry pointed out that the growth of global demand is the main reason for the growth of exports, digitalization and the development of 5G technology has led to high demand for electronic and electrical products, especially semiconductors, rubber products and petroleum products demand also boosted exports in the month.

“On a month-on-month comparison, our trade, exports and imports grew by 2.7 percent, 0.6 percent and 5.4 percent respectively; however, the trade surplus declined by 15.4 percent.”

The ministry also said trade volume grew by 21.4 percent to RM669.66 billion in the first four months of the year compared to the same period in 2020. Exports rose 27.8 percent to RM387.81 billion and imports grew 14.3 percent to RM308.65 billion, with the trade surplus soaring 137.5 percent to RM79.16 billion.

In addition, exports from all major export markets recorded growth, including the Eastern Association, China, the United States, the European Union and Japan.

“At the same time, trade, exports and imports all achieved double-digit growth for the third consecutive month.”

Source From: China Press Malaysia