Trade Performance : July 2024 and January - July 2024
TRADE AND EXPORTS POSTED STRONG DOUBLE-DIGIT GROWTH #
January-July Trade Reached RM1.652 trillion, Record Highest for the Period. July 2024’s 18.3% Trade Growth was Fastest in 21 Months, Signalling Strong Recovery for 2024
Malaysia's trade remained robust in July 2024, growing by 18.3% year-on-year (y-o-y), the fastest rate in 21 months. In terms of value, it reached RM255.88 billion, marking the highest trade value since October 2022. Exports continued its upward trajectory for the fourth consecutive month, expanding by 12.3% to RM131.15 billion while imports increased by 25.4% to RM124.73 billion. The trade surplus amounted to RM6.42 billion, marking the 51st consecutive month of surplus since May 2020.
Export growth was primarily driven by increased demand for palm oil and palm oil-based agriculture products, machinery, equipment and parts, petroleum products as well as electrical and electronic (E&E) products. In terms of markets, exports to major trading partners namely ASEAN, the United States (US), the European Union (EU) and Taiwan recorded double-digit growth.
Compared to June 2024, trade, exports and imports grew by 7.6%, 4.1% and 11.6%, respectively.
Download PDF:
English
Trade Performance : July 2024 and January - July 2024
Trade Performance : July 2024 and January - July 2024 (Infographic)
Bahasa Melayu
Prestasi Perdagangan : Julai 2024 dan Januari - Julai 2024
Prestasi Perdagangan : Julai 2024 dan Januari - Julai 2024 (Infografik)
