Trading in Malaysia Continues Its Upward Trend in September
Good news to those involved in trading in Malaysia. Trading in September continues to rise by 31.4% to Rm256.91 billion. Compared to the same period last year, this is positive growth indeed.
This marks the 20th consecutive month that Malaysia has experienced double-digit growth. The export sector grew 30.1% to RM144.31 billion. For the export sector, this is the 14th month of double-digit growth.
A New Record High for Trading in Malaysia
A new record was reached in Malaysia as the trading sector hit a surplus when it expanded by 20.9%. The export growth was thanks largely to several sectors. This includes electrical and electronic (E&E) products, liquefied natural gas (LNG), machinery, parts, equipment, petroleum products, crude petroleum, and scientific and optical equipment.
Double-digit growth was recorded with Malaysia’s major trading partners. Especially the US, Japan, as well as the European Union (EU). The exports to Japan contributed the most and recorded the highest monthly value.
Trading in Malaysia also recorded its 14th consecutive month of successful double-digit growth, thanks to the export of manufactured goods. RM1 billion worth of growth in exports was recorded by machinery, E&E products, optical and scientific equipment, equipment and parts. This was RM1 billion for each sector.
Positive Growth Continues With China, the US, and Japan
Exports of mining goods also experienced a positive upward surge of 89% year-on-year. This is the 18th consecutive double-digit growth, thanks to more exports of crude petroleum and LNG.
Agriculture exports grew by 8% compared to the previous year. This was largely due to higher exports of palm oil-based agriculture products and palm oil.
China accounted for 17.1% of the total trading in Malaysia, where exports are concerned. Conversely, the US contributed 10.4% to Malaysia’s total trade. Japan’s contribution to trading in Malaysia by 6.7%.
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