Manufactured Goods Exports Increased 19.1% YoY in March 2022, Amounted RM109.46 Bil

In the official statement on the nation’s external trade statistics released by the Ministry of International Trade and Industry today, it is reported that exports of manufactured goods in March 2022 reached its highest monthly value at RM109.46 billion or 83.2% of total exports, translating to a 19.1% y-o-y.

The growth was attributed to higher exports of E&E products, petroleum products as well as palm oil-based manufactured products, each recorded over RM1 billion increase in exports. These products collectively contributed 60.2% to exports of manufactured goods.

Exports of mining goods (8.2% share) surged by 105.8% y-o-y to RM10.77 billion, the highest monthly value. The increase was driven by higher exports of LNG and crude petroleum.

Exports of agriculture goods (8.1% share) soared by 41.8% to RM10.61 billion compared to March 2021. This was the 13th consecutive month of double-digit growth. The expansion was contributed mainly by higher exports of palm oil and palm oil-based agriculture products.

Major exports in March 2022:

• E&E products, valued at RM52.84 billion and accounted for 40.1% of total exports, increased by 32.8% from March 2021;
• Petroleum products, RM9.33 billion, 7.1% of total exports, surged by 96.5%;
• Palm oil and palm oil-based agriculture products, RM8.52 billion, 6.5% of total exports, surged by 55.9%;
• Chemicals and chemical products, RM6.90 billion, 5.2% of total exports, increased by 9.1%; and
• Manufactures of metal, RM5.51 billion, 4.2% of total exports, increased by 3.5%.

Compared to February 2022, exports of manufactured, mining and agriculture goods rose by 25.6%, 57.8% and 34.9%, respectively.

For the period of January to March 2022, exports of manufactured goods expanded by 17.8% to RM291.66 billion compared to the same period of 2021.

The export expansion was supported by higher exports of E&E products, petroleum products as well as chemicals and chemical products.

While, the exports of agriculture goods accelerated by 49.8% to RM27.22 billion buoyed by stronger exports of palm oil and palm oil-based agriculture products.

Meanwhile, exports of mining goods surged by 58.9% to RM24.41 billion boosted by higher shipments of LNG and crude petroleum.

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