KUALA LUMPUR: The exports of Malaysia raised 18.4% to 95.59 billion ringgit ($22.85 billion) in August since a year, as exports to all larger markets, ASEAN, China, the European Union, the United States, and Japan reported a positive increase, approved data revealed on Tuesday.
The export increase was provided largely by the robust external market for petroleum goods, electrical and electronic products essentially due to higher purchases of semiconductors as well as chemicals and chemical goods, the Ministry of International Trade and Industry of Malaysia stated in an announcement.
Meantime, the whole trade grew 15.7% to 169.79 billion ringgit in August. Imports increased by 12.5% to 74.2 billion ringgit, while trade excess was up 44.7% to 21.39 billion ringgit.
For the initial eight months of the year 2021, Malaysia’s trade increased 22.9% to 1.41 trillion from the equivalent time last year.
Exports for the time increased 24.9% to 778.49 billion ringgit; imports grew 20.4% to 628.29 billion ringgit, and trade surplusage rose 48.2% to 150.2 billion ringgit.
In August, the trade of Malaysia with China recorded an increase of 14.3% continuously in years to 32.17 billion ringgit, the ninth continuous month of double-digit extension, which expressed 18.9% of total trade of Malaysia.
Exports of Malaysia to China grew 5.7% to 15.19 billion ringgit; following large exports of liquefied natural gas, and also chemicals and chemical goods.
Meantime, imports of Malaysia from China for the month grew 23.4% to 16.99 billion ringgit. For the initial eight months, the trade of Malaysia with China rose 27.8% year-to-year to 265.65 billion ringgit.
Exports of Malaysia to China for the time edged up 19% year-to-year to 118.48 billion ringgit on the reverse of higher shipping of E&E goods, producing metal parts, LNG, and also chemicals and chemical goods.
Imports of Malaysia from China for the time also grew 35.8% year-to-year to 147.16 billion ringgit.
