Malaysia's trade hits record RM364.7bil in July as exports soar 38pct, surplus stretches 75 months
KUALA LUMPUR: Malaysia’s trade hit a record monthly high in July, rising 37.3 per cent year-on-year (YoY) to RM364.74 billion, driven by strong growth in both exports and imports.
KUALA LUMPUR: Malaysia's trade reached a record monthly high in July with exports soaring 38 percent year-on-year. The surge in trade was driven by strong growth in both exports and imports, resulting in a trade surplus that has now stretched for 75 consecutive months since May 2020. Exports increased by RM32 billion, hitting a record monthly value, while imports grew by 36.4 percent.
The Investment, Trade and Industry Ministry reported that exports and imports both set new records for the January-July period, surpassing previous highs. Malaysia's key markets, including Asean, China, the US, Taiwan, and the European Union, saw strong export growth, with some exports reaching record monthly values. The ministry emphasized the need for Malaysia to diversify its export markets and products to navigate ongoing global trade uncertainties.
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Also reported by 1 other outlet
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