Trade Performance : September 2024 and January - September 2024
MALAYSIA'S NINE-MONTH TRADE GREW 10.2% YEAR-ON-YEAR, EXCEEDED RM2-TRILLION MARK#
Trade Remains Buoyant, Contributed Mainly by Exports of Palm Oil-Based Agriculture Products
Malaysia’s trade for January to September 2024 rose 10.2% to RM2.139 trillion, exceeding the RM2 trillion mark within nine months, compared to ten months in 2023. In line with the World Trade Organization’s (WTO) projection that Asia's exports would increase by 7.4% in 2024, Malaysia’s nine-month exports expanded by 5.2% to RM1.115 trillion. Imports rose 16.1% to RM1.024 trillion, resulting in a trade surplus of RM91.21 billion.
In September 2024, Malaysia's trade performance continued its strong momentum, solidifying its upward trend, registering the ninth consecutive month of year-on-year (y-o-y) expansion. Trade increased by 4.7% to RM234.84 billion compared to September 2023 supported mainly by stronger performance of the agriculture sector. Malaysia registered RM124.01 billion of exports, and RM110.83 billion of imports, marking a trade surplus for the 53rd consecutive month.
Growth in exports were seen for optical and scientific equipment, palm oil and palm oil-based agriculture products as well as machinery, equipment and parts. In terms of markets, significant export growth was registered to the United States (US), the European Union (EU) and Taiwan. In addition, exports to Taiwan reached an all-time high, driven by exports of electrical and electronic (E&E) products particularly semiconductor devices and integrated circuits (ICs).
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Trade Performance : September 2024 and January - September 2024
Trade Performance : September 2024 and January - September 2024 (Infographic)
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Prestasi Perdagangan : September 2024 dan Januari - September 2024
Prestasi Perdagangan : September 2024 dan Januari - September 2024 (Infografik)
