February 2020 - the Fastest Export Growth y-o-y since November 2018
Malaysia’s trade in February 2020 registered a double-digit growth of 11.6% to RM136.28 billion compared to February 2019. Higher trade was recorded with the United States (US), Singapore, the Republic of Korea (ROK), China and Taiwan. Exports picked up sharply by 11.8% to RM74.45 billion, compared to a 1.5% decline in January 2020. This was the strongest year-on-year (y-o-y) growth in 16 months. Imports expanded by 11.3% to RM61.83 billion.
Trade surplus in February 2020 was valued at RM12.62 billion, grew by 14.1% compared to February 2019. This was the largest trade surplus recorded for the month of February thus far and the 268th consecutive month of surplus.
Compared to January 2020, trade, exports and imports posted a decline of 12.7%, 11.5% and 14.2%, respectively. Trade surplus increased by 4.9%.
Malaysia’s trade over the past 2 months grew by 3.9% to RM292.48 billion. Higher trade was recorded with the US, Singapore, the ROK, Indonesia and India. Exports during the period registered an increase of 4.3% to RM158.57 billion and imports rose by 3.5% to RM133.91 billion.
Malaysia’s trade surplus in January to February 2020 was valued at RM24.65 billion, expanded by 9.2% compared to RM22.57 billion for the same period of 2019.
Trade Performance : February 2020 and January - February 2020