Mon, 16 May 2022

Malaysia's exports rise 29.2 pct in December 2021

Xinhua
29 Jan 2022, 02:05 GMT+10

KUALA LUMPUR, Jan. 28 (Xinhua) -- Malaysia's exports in December 2021 rose 29.2 percent to 123.85 billion ringgit from a year earlier on higher electrical and electronic (E&E) shipment, official data showed Friday.

Electrical and electronics goods, which account for more than one-third of Malaysia's total exports, advanced 36.1 percent in December from a year earlier, while petroleum product shipments gained 25.6 percent, the Ministry of International Trade and Industry (MITI) said in a statement.

Malaysia's exports to major trading partners, including China, the United States and Singapore recorded double-digit growth in the month, it said.

Malaysia's trade in December expanded 26.8 percent year-on-year to 216.7 billion ringgit, while imports up 23.6 percent to 92.86 billion ringgit in December, according to MITI. The trade surplus widened to 31 billion ringgit in December, up 49.5 percent on the year.

In December, Malaysia's exports to China grew 28.8 percent year-on-year to 20.1 billion ringgit, while imports gained 22.3 percent to 22.1 billion ringgit.

Malaysia's full-year export gained 26 percent year-on-year at 1.24 trillion ringgit, while imports were up 23.3 percent to 987.2 billion ringgit, the statement read.

Total trade advanced 24.8 percent to 2.23 trillion ringgit, while trade balance gained 37.9 percent to 252.6 billion ringgit.

For the full year, China remained as Malaysia's largest trading partner for 13 consecutive years with an 18.9 percent share of total trade, expanding by 27 percent to 421.07 billion ringgit compared to 2020.

Exports rose by 20.6 percent to 192.05 billion ringgit, the highest value thus far, driven by strong exports of manufactures of metal, E&E products as well as liquefied natural gas (LNG).

Imports from China, which accounted for 23.2 percent of total imports, gained 33 percent to 229.02 billion ringgit, with main imports components being E&E products, machinery, equipment and parts as well as chemicals and chemical products. (1 ringgit equals 0.24 U.S. dollar)

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