Malaysia's total trade recorded a growth rate of 27.3 percent year-on-year last month to reach a new high of 236.6 billion RM (55.69 billion USD). (Photo: thestar.com.my)
Export and import values in March once again broke the all-time record highs, at 131.6 billion RM and 104.9 billion RM, respectively.
Malaysian chief statistician Dr Mohd Uzir Mahidin said Malaysia’s imports surpassed the 100-billion-RM mark for the first time ever, signifying a positive sign of domestic economic activity.
Trade surplus widened by 10.3 percent to 26.7 billion RM from 24.2 billion RM in the preceding year, marking the 23rd consecutive month of trade surplus since May 2020.
Malaysia’s exports accelerated by 25.4 percent from 105.0 billion RM to 131.6 billion RM, surpassing the 100-billion-RM mark for the seventh straight month since September 2021. Export value growth in March 2022 was supported by both domestic exports and re-exports.
On the performance for the first quarter of 2022, the DOSM said total trade, exports, imports, and trade surplus continued to record strong double-digit growth.
It said the total trade went up by 23.6 percent, supported by the expansion in exports, up 22.2 percent, as well as imports, up 25.2 percent./.