According to the Investment, Trade and Industry Ministry, the trade surplus registered a double-digit growth of 42.7% to RM24.52bil.
KUALA LUMPUR: Malaysia’s exports in September increased by 8.2% to RM124.47bil as compared with August, while imports expanded by 2.1% to RM99.95bil resulting in the total trade increasing by 5.4% month-on-month to RM224.43bil.
According to the Investment, Trade and Industry Ministry (Miti), the trade surplus registered a double-digit growth of 42.7% to RM24.52bil, making it the 41st consecutive month of trade surplus since May 2020.
“Compared with September 2022, exports was lower by 13.7% and imports edged down by 11.1% amid slower global demand, uncertainties in commodity prices and high base effect last year, subsequently, total trade was lower by 12.6%,” Miti said in a statement yesterday.
The ministry said the performance was similar to the country’s major trading partners notably South Korea, China, Taiwan and Indonesia, which recorded negative trade growth for September and a decline in their global imports.
It said the trade surplus in September 2023 contracted by 23% year-on-year.
Meanwhile, it said trade for the third quarter of 2023 (3Q23) increased by 1.6% to RM653.57bil compared with 2Q23.
It said exports grew by 2.2% to RM356.31bil, imports expanded by 0.8% to RM297.26bil and trade surplus rose by 9.6% to RM59.06bil respectively.
The ministry said trade, exports, imports and trade surplus declined by 15.7%, 15.2%, 16.3% and 9.1% respectively, compared with 3Q22.
It said for the period of January to September 2023, trade contracted by 8.6% to RM1.942 trillion compared with the same period of last year while exports surpassed RM1 trillion mark to RM1.060 trillion, declining by 8.4%. — Bernama
