Exports From Malaysia increased 1.7% Year-on-Year to MYR 126.0 Billion in June
London, 18 July 2024
Exports from Malaysia increased 1.7% year-on-year to MYR 126.0 billion in June 2024, less than market forecasts of a 4.6% gain and easing sharply from a downwardly revised 7.1% rise in the prior month.
Sales grew for all sectors, with manufacturing rising by 1.0%, mainly chemical and chemical products (3.2%), machinery equipment and parts (25.1%), and optical & scientific equipment (6.7%).
Meanwhile, mining grew by 15.1%, due to higher exports of liquefied natural gas (23.7%) and crude petroleum (15.4%).
Increases in palm oil and its derivatives (0.7%) drove a 1.7% increase in sales in the agricultural sector. Exports increased to the US (14.0%), India (10.9%), Taiwan (54.5%), and ASEAN nations (2.1%) among the main trading partners, while they decreased to China (-2.0%), Japan (-18.6%), and the EU (-8.2%).
Exports in the first half of 2024 increased by 3.9% over the same period the year before. (Source: Trading Economics)
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