Malaysia’s trade up 10.2 pct on year in January-September

KUALA LUMPUR, Oct. 18 (Xinhua) — Malaysia’s trade during the period from January to September 2024 rose 10.2 percent year on year to 2.14 trillion ringgit (497 billion U.S. dollars), official data showed Friday.
The Ministry of Investment, Trade and Industry (MITI) said in a statement that Malaysia’s trade remained buoyant, mainly thanks to the export of palm oil-based agricultural products.
Meanwhile, Malaysia’s nine-month exports expanded by 5.2 percent to 1.12 trillion ringgit, while imports rose 16.1 percent to 1.02 trillion ringgit, resulting in a trade surplus of 91.21 billion ringgit.
In September, Malaysia’s trade increased by 4.7 percent year on year to 234.84 billion ringgit, supported mainly by stronger performance of the agriculture sector.
Malaysia registered 124.01 billion ringgit of exports, and 111 billion ringgit of imports during the month.
Growth in exports was seen for optical and scientific equipment, palm oil and palm oil-based agricultural products, as well as machinery, equipment and parts.
“Malaysia’s brighter outlook is reflected in its improved macroeconomic indicators, including trade, placing the country on track for sustained and resilient economic growth in the coming years,” MITI said. (1 ringgit equals 0.23 U.S. dollar) ■