Malaysia’s exports rise 24.7 pct in September

Malaysia’s exports grew by 24.7 percent year on year to 110.83 billion ringgit (about 26.67 billion U.S. dollars) in September, as exports to China registered the highest monthly value ever, official data showed Thursday.
The export growth was contributed mainly by robust external demand for petroleum products, manufactures of metal, palm oil and palm oil-based agriculture products as well as electrical and electronic (E&E) products, the International Trade and Industry Ministry (MITI) said in a statement.
According to MITI, exports of manufactures of metal, palm oil and palm oil-based agriculture products as well as E&E products registered the highest monthly value thus far.
Malaysia’s exports to ASEAN, China, the United States and Japan also recorded double-digit growth.
Meanwhile, Malaysia’s trade in September expanded by 25.5 percent year on year to 195.54 billion ringgit.
Imports in September increased by 26.5 percent to 84.7 billion ringgit and trade surplus rose by 19.1 percent to 26.13 billion ringgit.
As for the third quarter, Malaysia’s total trade grew by 18.1 percent year on year to 546.21 billion ringgit, with exports increased by 15.8 percent to 303.74 billion ringgit, imports expanded by 21 percent to 242.47 billion ringgit.
For the first nine months of 2021, Malaysia’s trade expanded by 23.2 percent to 1.602 trillion ringgit, with exports grew 24.9 percent to 889.32 billion ringgit, imports rose 21.1 percent to 712.99 billion ringgit.
In September, Malaysia’s trade with China, which made up 19.7 percent of its total trade, grew by 24.6 percent year on year to 38.45 billion ringgit, the 10th consecutive month of double-digit expansion.
Malaysia’s exports to China recorded a double-digit growth of 19 percent to 18.52 billion ringgit, the highest monthly value thus far, due to higher exports of manufactures of metal, iron and steel products as well as liquefied natural gas (LNG).
Malaysia’s imports from China for the month also increased by 30.3 percent year on year to 19.93 billion ringgit.
As for the nine months of 2021, Malaysia’s trade with China rose by 27.4 percent year on year to 304.1 billion ringgit.
Malaysia’s exports to China for the period grew 19 percent to 137 billion ringgit on account of higher exports of E&E products, manufactures of metal, LNG as well as chemicals and chemical products.
Its imports from China for the period also increased by 35.1 percent to 167.09 billion ringgit. (1 U.S. dollar equals 4.15 ringgit)