Trade Performance : October 2024 and January - October 2024
Exports Rebounded in October, 54th Straight Month of Surplus
Malaysia’s trade remained resilient and posted the highest periodic value ever, expanding by 9.3% to RM2.383 trillion during the first 10 months of 2024 compared to the same period in 2023. Exports rose 4.8% to RM1.243 trillion and imports increased by 14.6% to RM1.140 trillion, resulting in a trade surplus of RM102.77 billion.
For the month of October 2024, trade marked its 10th consecutive month of year-on-year (y-o-y) growth, rising 2.1% to RM244.26 billion. Exports rebounded by 1.6% to RM128.12 billion, while imports expanded at a more moderate pace of 2.6% to RM116.14 billion, resulting in a trade surplus of RM11.98 billion. This was the 54th straight month of surplus recorded since May 2020.
Export growth in October 2024 was largely supported by strong demand for manufactured goods, which represented 85.4% of total exports. These increased by 1.9% to RM109.46 billion on higher exports of electrical and electronic (E&E) products, rubber products, processed food as well as machinery, equipment and parts. In terms of markets, Malaysia registered growth in exports to the United States (US), the European Union (EU) and Taiwan.
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Trade Performance : October 2024 and January - October 2024
Trade Performance : October 2024 and January - October 2024 (Infographic)
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Prestasi Perdagangan : Oktober 2024 dan Januari - Oktober 2024
Prestasi Perdagangan : Oktober 2024 dan Januari - Oktober 2024 (Infografik)
