Malaysia’s export sector is on an impressive upward trajectory, showcasing a remarkable 12.1% year-on-year growth in August, amounting to 129.16 billion ringgit (30.30 billion USD). This robust performance reflects the nation's strong trading relationships, particularly within the region and with major global markets.
A surge in demand for electrical and electronic products, particularly advanced technological components, has significantly contributed to this growth. Additionally, key sectors such as palm oil, machinery, and scientific equipment have further enhanced Malaysia's export profile.
Manufactured goods also saw impressive double-digit growth, underscoring the resilience and adaptability of Malaysia’s trade sectors. Overall, the nation’s trade surged by 18.6% year-on-year to reach 252.65 billion ringgit, with imports increasing by 26.2% to 123.49 billion ringgit.
In the first eight months of 2024, Malaysia's trade has expanded by 10.9%, totaling 1.91 trillion ringgit. Exports rose by 6% to 991.36 billion ringgit, while imports increased by 16.8% to 913.18 billion ringgit.
Authorities remain optimistic about sustaining this positive momentum and are committed to navigating potential global challenges, ensuring that Malaysia’s trade continues to thrive.
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