Thursday 28 Mar 2024
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KUALA LUMPUR (Oct 28): Malaysia’s total trade in September 2020 expanded by 5.5% to RM155.88 billion compared to the same month of the previous year.

In a statement today, International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali said increases in trade were recorded primarily with China, Hong Kong, the US, the Netherlands and Taiwan.

He said exports rebounded by a double-digit growth of 13.6% to RM88.93 billion, the highest export value ever recorded for the month of September.

Imports decreased by 3.6% to RM66.96 billion.

Mohamed Azmin said the trade surplus in September 2020 surged by 149.3% year-on-year (y-o-y) to RM21.97 billion, the highest ever recorded for the month of September.

Compared to August 2020, total trade, exports and imports grew by 7.5%, 12.4% and 1.6% respectively.

The trade surplus recorded a significant expansion of 66.3%.

The minister said total trade in the third quarter of 2020 (3Q20) amounted to RM460.87 billion, declining marginally by 0.5% compared to 3Q19.

Exports increased by 4.4% to RM260.62 billion, while imports contracted by 6.3% to RM200.25 billion.

The trade surplus grew by 68.4% to RM60.36 billion.

Compared to 2Q20, total trade, exports and imports registered strong growth of 17.3%, 24% and 9.6% respectively.

The trade surplus surged by 118.6%.

Mohamed Azmin said for the cumulative first nine months of 2020 (9M20), the trade surplus recorded a double-digit growth of 14.8% to RM124.94 billion compared to the same period of 2019.

He said total trade was valued at RM1.294 trillion, a decline of 5.2% mainly on lower trade with Thailand, Singapore, India and Japan. However, higher trade was registered with the US, South Korea, China and Bahrain.

Exports during the period totalled RM709.56 billion, slipping by 3.7%, while imports were RM584.62 billion, declining by 6.9%.

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