In November 2022, trade with Asean contributes 26.6% to Malaysia’s total trade, a rise of 11.6% y-o-y to RM63.46 billion. – The Malaysian Insight file pic, December 19, 2022.
“The export expansion was underpinned by strong exports of electrical and electronic products, liquefied natural gas , petroleum products as well as crude petroleum,” it said in a statement today. For the period of January to November 2022, trade expanded by 29.9% to RM2.613 trillion compared to the same period last year.Imports rose by 33.3% to RM1.193 trillion and trade surplus edged up by 2.6 per cent to RM227.89 billion.In November 2022, exports of manufactured goods which accounted for 84.6% of total exports grew by 15% y-o-y to RM110.23 billion and was the 16th straight month of double-digit expansion.
Exports of agriculture goods declined by 11.1% to RM8.87 billion compared to November 2021 due to lower exports of palm oil and palm oil-based agriculture products.Exports of manufactured goods grew by 24.3% to RM1.197 trillion compared to the same period last year. Exports edged up by 16.9% to RM38.69 billion, this was on account of higher exports of E&E products and petroleum products.Exports to Asean major markets that recorded increases were Singapore which grew by RM5.86 billion, bolstered by robust exports of E&E products and Thailand .
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