KUALA LUMPUR, July 28 — Malaysia’s trade performance continued the growth momentum in June 2021 with total trade increasing by 29.3 per cent to RM188.7 billion compared to that of June 2020, the Ministry of International Trade and Industry (MITI) said.
Senior Minister cum International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali said exports recorded the 10th consecutive month of year-on-year (y-o-y) expansion since September 2020, registering a strong growth of 27.2 per cent to RM105.47 billion.
“This was the third time exports exceeded RM100 billion. Imports increased by 32.1 per cent to RM83.23 billion and trade surplus expanded by 11.7 per cent to RM22.24 billion.
“Trade, exports and imports recorded the second highest monthly value thus far after April 2021. This was also the highest monthly value for the month of June and double-digit growth for five successive months,” he said in a statement today.
Mohamed Azmin said the export growth was contributed by strong demand for petroleum products, electrical and electronics (E&E) products, mainly electronic integrated circuits used in the production of smartphones, cars, computers and home appliances, as well as rubber products.
“Exports to all major markets, namely ASEAN, China, the United States, the European Union and Japan recorded double-digit expansion.
“On a month-on-month (m-o-m) basis, trade, exports, imports and trade surplus increased by 10.4 per cent, 14.3 per cent, 5.9 per cent, and 61.7 per cent, respectively.
Trade for the second quarter (Q2) of 2021 increased by 39 per cent to RM550.4 billion compared to Q2 2020, while exports surged by 44 per cent to RM303.37 billion and imports expanded by 33.3 per cent to RM247.02 billion.
“This was the highest quarterly value for trade, exports and imports thus far. A trade surplus of RM56.35 billion was recorded for the period, surging by 122.7 per cent.
“Compared to the first quarter (Q1) 2021, trade, exports and imports grew by 8.8 per cent, 7.5 per cent and 10.5 per cent, respectively, while the trade surplus contracted by 4.0 per cent,” he said.
Mohamed Azmin noted that Malaysia’s total trade surpassed RM1 trillion in just six months, the shortest period to breach this milestone.
“For the first half of 2021, trade totalled RM1.056 trillion, an expansion of 26 per cent from the same period last year. Exports rose by 30.2 per cent to RM585.56 billion and imports increased by 21.1 per cent to RM470.53 billion.
“This was the highest half year value recorded for trade, exports and imports. Trade surplus surged by 87.7 per cent to RM115.04 billion,” he said.
