Malaysia's Trade Sector Excellent! Reaches a Record of RM1.06 Trillion

 Malaysia's trade sector continued to maintain an excellent performance in June 2021 with total trade jumping 29.3% to RM188.7 billion compared to June 2020, according to the Ministry of International Trade and Industry (MITI).

Through a statement issued, trade, exports and imports recorded the second highest monthly value with exports increasing 30.2% year -on -year [yoy] to RM585.56 billion and imports increasing 21.1% [yoy] to RM470.53 billion.

Meanwhile, the trade surplus jumped 87.7% [yoy] to RM115.04 billion.

Senior Minister and MITI Minister Datuk Seri Mohamed Azmin Ali said exports had recorded a year -on -year increase of 10 months since September 2020 to record a strong growth of 27.2% to RM105.47 billion.

Looking at the month-on-month comparison of exports, imports, total trade and trade surplus made increases of 14.3%, 5.9%, 10.4%and 61.7%respectively.

Export growth was contributed by high demand for petroleum products, electronic products (E&E), chemical products, metal fabrication and transport equipment as well as rubber products.

"Exports to all major markets, namely ASEAN, China, the United States, the European Union and Japan, recorded double -digit growth," he added.

For the first half of 2021, Malaysia's total trade jumped 26% to RM1.06 trillion compared to the same period last year.

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