Malaysia’s exports rise 20.7 pct in April on higher E&E shipment
Imports from China grew 8.3 percent to 21.85 billion ringgit.
KUALA LUMPUR: MAY. 19 – Malaysia’s exports surged 20.7 percent year-on-year to 127.49 billion ringgit (28.96 billion U.S. dollars) in April, marking the ninth straight consecutive month of double-digit growth, official data showed Thursday.
The export growth was contributed mainly by shipments of electrical and electronic products mainly semiconductors driven by global digitalization trends, the Ministry of International Trade and Industry (MITI) said in a statement.
Meanwhile, exports to major markets notably the Association of Southeast Asian Nations (ASEAN), China, the United States, the European Union (EU) and Japan recorded double-digit growth.
According to MITI, Malaysia’s trade in April expanded by 21.3 percent year-on-year to 231.44 billion ringgit. Import soared 22 percent year on year to 103.95 billion ringgit, and the trade surplus expanded by 15.7 percent to 23.55 billion ringgit.
For the cumulative four months period, Malaysia’s total trade grew by 22.9 percent year-on-year to 856.21 billion ringgit, while exports for the period climbed 21.8 percent year-on-year to 472.39 billion ringgit and imports grew by 24.3 percent to 383.82 billion ringgit.
In April, Malaysia’s trade with China, which made up 16.9 percent of Malaysia’s total trade, increased by 10.1 percent year-on-year to 39.22 billion ringgit, the 17th consecutive month of double-digit expansion.
Meanwhile, Malaysia’s exports to China climbed by 12.4 percent to 17.36 billion ringgit supported by higher exports of E&E products. Imports from China grew 8.3 percent to 21.85 billion ringgit.
As compared to the immediately preceding month, Malaysia’s trade and imports with China were up by 0.5 percent and 3 percent respectively while exports fell 2.4 percent.
For the first four months, Malaysia’s trade with China jumped 17.5 percent to 150.56 billion ringgit compared to the same period in 2021. Exports to China for the period climbed by 17.4 percent to 67.42 billion ringgit on account of higher exports of E&E products, LNG as well as palm oil and palm oil-based products.
Malaysia’s imports from China for the period expanded 17.6 percent to 83.14 billion ringgit. (1 ringgit equals 0.23 U.S. dollar)