Malaysia’s total trade expanded by 21.1% to RM245.18 billion in October, marking the 21st consecutive month of double-digit growth, the International Trade and Industry Ministry says. – The Malaysian Insight file pic, November 17, 2022.
“The export growth was mainly boosted by higher shipments of petroleum products, electrical and electronic products, liquefied natural gas , as well as crude petroleum,” it said in a statement today. “Exports of mining goods surged by 85.9% y-o-y to RM11.22 billion, marking the 19th straight month of double-digit expansion, mainly due to higher exports of LNG and crude petroleum.
“Exports increased by 25.3% y-o-y to RM38.79 billion, the 15th consecutive month of double-digit growth, boosted by higher exports of petroleum products and E&E products, while imports rose by 13.6% y-o-y to RM24.56 billion,” it said. Miti said trade with US rose by 20.3% y-o-y to RM23.98 billion, marking the 14th straight month of double-digit expansion.
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