World

Malaysia's exports rebound 9.1 pct in April

KUALA LUMPUR
2024-05-20 16:51

Already collect



KUALA LUMPUR, May 20 (Xinhua) -- In line with the global trade recovery, Malaysia's exports in April rebounded by 9.1 percent year-on-year to 114.72 billion ringgit (24.49 billion U.S. dollars) after two consecutive months of contraction, official data showed Monday.

The Ministry of Investment, Trade and Industry (MITI) said in a statement that 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, Malaysia's exports to the Association of Southeast Asian Nations (ASEAN), the United States and the European Union recorded double-digit growth while exports to China rebounded from negative growth recorded in the previous month. "This reflects the growing economic recovery in Malaysia's key export markets," the MITI said.

In April, Malaysia's exports of manufactured goods, which constituted 84.8 percent of total exports, registered the second consecutive month of year-on-year expansion, rising 7.1 percent to 97.32 billion ringgit.

The increase was driven by strong exports of machinery, equipment and parts, chemicals and chemical products as well as iron and steel products.

Exports of mining goods posted the third consecutive month of year-on-year growth in April with a double-digit expansion of 27.5 percent to 8.22 billion ringgit.

This was due to higher shipments of crude petroleum and liquefied natural gas.

Meanwhile, exports of agriculture goods in April rebounded by 13.8 percent year-on-year to 8.2 billion ringgit after two consecutive months of contraction.

The growth was contributed mainly by increased shipments of palm oil and palm oil-based agriculture products on higher volume and export prices.

Overall, Malaysia's trade continued its strong performance and maintained an upward trajectory in April, recording double-digit growth of 12.1 percent to 221.74 billion ringgit.

Imports in April also grew by 15.6 percent year-on-year to 107.02 billion ringgit, contributed by strong imports of intermediate goods used mainly for the manufacturing of products for exports. (1 ringgit equals 0.21 U.S. dollar)
Add comments

Latest comments

Latest News
News Most Viewed