The latest trade report by MATRADE, Malaysia’s trade remained sturdy in August 2022 with double-digit growth recorded for trade, exports, and imports. This was the highest monthly value for the month of August.
Trade surged by 56.7% to RM265.74 billion compared to August 2021, the 19th consecutive month of double-digit growth. Exports increased by 48.2% to RM141.33 billion, the 13th successive month of double-digit growth. Imports leaped by 67.6% to RM124.41 billion and the trade surplus contracted by 19.9% to RM16.92 billion.
The export expansion was attributed to higher shipments of electrical and electronic (E&E) products, petroleum products, palm oil and palm oil-based agriculture products, liquefied natural gas (LNG) as well as optical and scientific equipment. Exports of petroleum products, LNG, as well as optical and scientific equipment, registered the highest monthly value. Meanwhile, exports to major trading partners notably ASEAN,
China, the United States, the European Union, and Japan recorded double-digit growth. The highest monthly export value was registered in Japan.
