KUALA LUMPUR; Malaysia maintains its upward trade momentum in April, registering the highest monthly value for trade, exports, imports and trade surplus.
Senior Minister and International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali said total trade rose 21.3 per cent year-on-year (yoy) to RM231.44 billion, the 15th consecutive month of double-digit growth.
Exports increased 20.7 per cent to RM127.49 billion, while imports grew 22 per cent to RM103.95 billion. This led to a 15.7 per cent jump in trade surplus to RM23.55 billion.
"The export growth was boosted by higher shipments of electrical and electronic (E&E) products, mainly semiconductors driven by global digitalisation trends.
"Exports to major markets notably ASEAN, China, the United States (US), the European Union (EU) and Japan recorded double-digit growth. Meanwhile, exports to the US recorded the highest monthly value ever," Azmin said.
On a monthly basis trade, exports, imports and trade surplus dropped 2.1 per cent, 3.1 per cent, 0.9 per cent and 11.6 per cent respectively.
From January to April 2022, trade climbed 22.9 per cent to RM856.21 billion from the same period last year.
Exports jumped 21.8 per cent to RM472.39 billion and imports were up 24.3 per cent to RM383.82 billion. Trade surplus grew 12.1 per cent to RM88.57 billion.
"Exports of manufactured goods in April 2022 which absorbed 84.2 per cent of total exports rose by 17.2 per cent yoy to RM107.39 billion underpinned by higher exports of E&E products, manufactures of metal, chemicals and chemical products as well as palm oil based manufactured products, each recorded more than RM1 billion increase in exports," he said.
Exports of agriculture goods rose 29.9 per cent to RM10.2 billion compared to the same month last year driven by higher exports of palm oil and palm oil-based agriculture products.
Mining goods export expanded by 64.6 per cent yoy to RM9.33 billion bolstered by growth in exports of liquefied natural gas (LNG) and crude petroleum.
Compared to March 2022, exports of manufactured, agriculture and mining goods contracted by 1.9 per cent, 3.5 per cent and 13.4 per cent, respectively.
Trade with Asean, which accounted for 26.1 per cent of Malaysia's total trade, grew 21.4 per cent to RM60.48 billion.
Exports were up 14.2 per cent to RM34.84 billion driven mainly by higher exports of E&E products. Imports from Asean jumped 32.7 per cent to RM25.64 billion.
However, compared to March 2022, trade, exports and imports fell by eight per cent, 11.4 per cent and three per cent respectively.
Trade with China expanded 10.1 per cent yoy to RM39.22 billion with exports registering a growth of 12.4 per cent to RM17.36 billion, bolstered mainly by higher exports of E&E products. Imports from China climbed up by 8.3 per cent to RM21.85 billion.
Malaysia's trade with the US rose 21.1 per cent yoy to RM22.13 billion while trade with the EU leaped by 24.2 per cent to RM18.5 billion.
"Trade with Japan which made up 6.4 per cent of Malaysia's total trade, increased by 12.8 per cent yoy to RM14.92 billion," Azmin said.
He also noted that total imports in April 2022 had grown 22 per cent to RM103.95 billion.
The three main categories of imports by end-use, which accounted for 74.0 per cent of total imports, were intermediate goods and consumption goods which rose 28.1 per cent and 9.7 per cent respectively, as well as capital goods which contracted 2.4 per cent.