Exports Continued to Expand for Three Consecutive Months
Malaysia’s exports in November 2020 increased by 4.3% to RM84.43 billion compared to the same month last year, registering three consecutive months of year-on-year (y-o-y) growth. The expansion was supported mainly by higher exports to the United States (US), Singapore, China and Hong Kong SAR.
Imports in November 2020 was RM67.61 billion, decreased by 9% y-o-y while total trade reached RM152.04 billion, contracted by 2%. Trade surplus amounted to RM16.82 billion, surged by 151.6% and was the highest trade surplus thus far for the month of November.
Compared to October 2020, total trade, exports, imports and trade surplus decreased by 5%, 7.3%, 1.9% and 24%, respectively.
For the first 11 months of 2020, trade surplus recorded a double digit growth of 23.1% to RM163.86 billion compared to the same period of 2019. Total trade was valued at RM1.606 trillion, a decline of 4.6%. Exports stood at RM885.02 billion, contracting by 2.6% while imports was RM721.16 billion, decreased by 7%.
Trade Performance : November 2020 and January - November 2020