Malaysia’s total trade soars to new high of RM236.6 bil in March: DoSM

[superadmin]

KUALA LUMPUR – Malaysia’s total trade recorded a double-digit growth of 27.3% year-on-year (y-o-y) in March 2022 to reach a new high of RM236.6 billion, the Statistics Department (DOSM) said.

Export and import values in March once again broke the record for all-time highs at RM131.6 billion and RM104.9 billion, respectively.

Chief statistician Datuk Seri Mohd Uzir Mahidin said Malaysia’s imports surpassed the RM100 billion mark for the first time ever, in line with the surge in intermediate goods, signifying a positive sign of domestic economic activity.

He said trade surplus widened by 10.3% from RM24.2 billion in the preceding year to RM26.7 billion, marking the 23rd consecutive months of trade surplus since May 2020.

“Malaysia’s exports accelerated by 25.4% from RM105.0 billion to RM131.6 billion, surpassing the RM100 billion mark for the seventh consecutive month since September 2021.

“Export value growth in March 2022 was supported by both domestic exports and re-exports. Domestic exports were valued at RM106.9 billion, contributing 81.2% to total exports, picking up strongly by 22.8% y-o-y.

“Meanwhile, re-exports amounted to RM24.7 billion, expanded by 38.0% compared to March 2021,” he said in a statement, today.

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