Trade Performance : April 2024 and January - April 2024
April Trade Up 12.1%, Exports Rebounded 9.1% Year-on-Year, Signalling Stronger Recovery in Global Trade for 2024
Malaysia’s trade continued its strong performance and maintained an upward trajectory in April 2024, recording double-digit growth of 12.1% to RM221.74 billion compared to April 2023. This was the fourth consecutive month of year-on-year (y-o-y) expansion.
In line with the global trade recovery, exports in April 2024 rebounded by 9.1% y-o-y to RM114.72 billion after two consecutive months of contraction. The growth was contributed mainly by higher exports of machinery, equipment and parts, chemicals and chemical products, crude petroleum, palm oil and palm oil-based agriculture products as well as iron and steel products. In terms of markets, exports to ASEAN, the United States (US) and the European Union (EU) recorded double-digit growth while exports to the People’s Republic of China (China) rebounded from negative growth recorded in the previous month. This reflects the growing economic recovery in Malaysia’s key export markets.
Imports in April 2024 grew by 15.6% y-o-y to RM107.02 billion, contributed by strong imports of intermediate goods used mainly for the manufacturing of products for exports. For the 48th consecutive month since May 2020, Malaysia experienced a trade surplus of RM7.7 billion.
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Trade Performance : April 2024 and January - April 2024
Trade Performance : April 2024 and January - April 2024 (Infographic)
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Prestasi Perdagangan : April 2024 dan Januari - April 2024
Prestasi Perdagangan : April 2024 dan Januari - April 2024 (Infografik)
