Trade Performance : October 2020 and January - October 2020
Highest Trade Surplus Recorded for the Month of October
Malaysia’s trade surplus in October 2020 widened to RM22.12 billion, registering a double digit growth of 25.9% year-on-year (y-o-y) and was the highest trade surplus ever recorded for the month of October.
Exports reached RM91.05 billion in October 2020, increased by 0.2% compared to October 2019. This was the third highest export value recorded thus far. The expansion was supported mainly by higher exports to the United States (US), China, India and the United Kingdom (UK). Imports totalled RM68.93 billion, decreased by 6% while total trade valued at RM159.98 billion, contracted by 2.5%.
Compared to September 2020, total trade, exports and imports expanded by 2.6%, 2.4% and 2.9%, respectively. Trade surplus increased by 0.8%.
For the first 10 months of 2020, trade surplus recorded a double digit growth of 16.3% to RM147.04 billion compared to the same period of 2019. Total trade was valued at RM1.454 trillion, a decline of 4.9%. Exports which totalled RM800.59 billion, slipped by 3.3% while imports was RM653.55 billion, declined by 6.8%.
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