Asiawe- November also marked the 229th consecutive month of trade surplus since November 1997, a 19-year streak that has greatly benefited the local economy, says Matrade.
November registered the highest level of exports the country achieved for a single month last year, says Matrade.
In its monthly and year-to-date trade performance report, the national trade promotion agency said exports for the month of November alone exceeded the RM70 billion mark.
“Malaysia’s exports in November 2016 recorded a strong year-on-year (y-o-y) growth of 7.8%, reaching RM72.83 billion.
“The achievement was supported by robust demand from major markets mainly from Asean, China, the European Union (EU), the United States of America (USA), Hong Kong and India,” Matrade said in a statement released today.
Meanwhile, imports in November 2016 grew (y-o-y) by 11.2% to RM63.8 billion. This brought total trade to RM136.63 billion, a 9.3% increase y-o-y.
With trade surplus at RM9.03 billion, November also marked the 229th consecutive month of trade surplus since November 1997, a 19-year streak that has greatly benefited the local economy.
“Malaysia’s total trade for the first 11 months of 2016 increased by 0.5% to RM1.342 trillion compared with RM1.335 trillion in the corresponding period in 2015.
“During the period, exports increased by 0.2% to RM710.38 billion while imports went up by 1% to RM631.83 billion. The overall trade surplus was RM78.55 billion,” Matrade said. Free Malaysia Today