Trade Breached One Trillion Mark in the First Seven Months of 2017
Malaysia’s total trade surpassed the one trillion mark in January-July 2017, with a value of RM1.008 trillion, expanding by 22.7% from the corresponding period in 2016. This was the fastest period trade breached the one trillion mark, two months earlier than the normal trend. Expansion was supported mainly by trade with ASEAN, China, the United States of America (USA), the European Union (EU), Japan, India and Taiwan. Exports increased by 22.3% to RM529.68 billion while imports rose by 23% to RM478.71 billion, resulting in a trade surplus of RM50.97 billion.
Exports in July 2017 maintained its steady growth momentum recording a value of RM78.62 billion, rising by 30.9% compared with a year ago. Exports posted a stronger year-on-year growth than imports for the third straight month. Imports was higher by 21.8% to RM70.59 billion and total trade expanded by 26.4% to RM149.21 billion. July’s trade surplus of RM8.03 billion marked the 237th consecutive month of trade surplus since November 1997.
On a month-on-month basis, total trade, exports and imports in July 2017 were higher by 9.5%, 7.6%, and 11.7%, respectively.
Trade Performance : July 2017 and January - July 2017