In March 2022, Trade, exports and imports between Malaysia-ASEAN edged up by 28.9%, 34.1% and 22.0% MoM (month-on-month), according to the official statement released by the Ministry of International Trade and Industry.
Our nation’s trade with ASEAN accounted for 27.8% of Malaysia’s total trade, expanding by 37.6% y-o-y to RM65.78 billion. While, exports reached the highest monthly value at RM39.33 billion, growing by 37.7% due to higher exports of E&E products and petroleum products. On the other hand, imports from ASEAN rose by 37.5% to RM26.45 billion.
Exports to all markets in ASEAN recorded expansion particularly Singapore which grew by RM5.11 billion, due to higher exports of E&E products, Thailand (increased RM1.42 billion, crude petroleum), Indonesia (increased RM1.39 billion, petroleum products), the Philippines (increased RM1.05 billion, petroleum condensates & other petroleum oil) and Vietnam (increased RM899.1 million, E&E products).
In the first three months of 2022, trade with ASEAN increased by 28.4% to RM169.16 billion compared to the same period of 2021. Exports to this region grew by 26.3% to RM99.47 billion owing to higher exports of E&E products, petroleum products, chemicals and chemical products, machinery, equipment and parts as well as palm oil and palm oil-based agriculture products. Imports from ASEAN rose by 31.4% to RM69.69 billion.
