KUALA LUMPUR (May 28): Malaysian exports rose 63% to RM105.6 billion in April 2021 from a year earlier, driven by expansion in domestic exports and re-exports to major importers including China and the US.
In a statement today, the Department of Statistics Malaysia (DOSM) said Malaysia’s imports in April 2021 increased 24.4% to RM85.1 billion. Trade surplus was noted at RM20.5 billion as the nation’s external trade continued its recovery from the impact of the Covid-19 pandemic, the DOSM said.
“Malaysia’s total trade in April 2021 surged 43.2%, reaching RM190.8 billion compared with in April 2020,” the DOSM said.
“The export expansion was also driven by electrical and electronic products (+RM11.2 billion); rubber products (+RM5.1 billion); petroleum products (+RM4.6 billion); manufacture of metal (+RM3 billion); machinery, equipment, and parts (+RM2.8 billion); palm oil and palm oil-based agriculture products (+RM2.5 billion); and optical and scientific equipment products (+RM1.9 billion).
“Meanwhile, rise in imports was noted for electrical and electronic products (+RM5.8 billion); petroleum products (+RM4.3 billion), chemical and chemical products (+RM2 billion); crude petroleum (+RM1.4 billion); manufacture of metal (+RM1.3 billion); and iron and steel products (+RM1 billion),” the DOSM said.
In geographical terms, the DOSM said Malaysia registered higher exports to Singapore, China, the US besides European Union countries.
Meanwhile, higher imports by Malaysia were noted mainly from China, Singapore, Japan, Indonesia, and Thailand, according to the DOSM.
Source : The Edge Market – 28 May 2021 (Friday)