Malaysia's November exports rise 32.4 pct on higher E&E shipment

Malaysia's exports in November rose 32.4 percent to 112.2 billion ringgit (26.82 billion U.S. dollars) from a year earlier on higher electrical and electronic (E&E) shipment, official data showed Tuesday.

The export expansion was underpinned by strong exports of E&E products, petroleum products as well as palm oil and palm oil-based agriculture products, the Ministry of International Trade and Industry (MITI) said in a statement.

Meanwhile, Malaysia's exports to major markets notably ASEAN, China, the United States, the European Union and Japan recorded double-digit growth, it said.

According to MITI, Malaysia's trade in November expanded 34.9 percent to 205.5 billion ringgit from a year ago.

Its imports in November climbed 38 percent year-on-year to 93.3 billion ringgit and trade surplus increased by 10.5 percent to 18.9 billion ringgit.

For the period of January to November 2021, Malaysia's trade surpassed the 2-trillion-ringgit mark for the first time, expanding by 24.6 percent to 2.01 trillion ringgit from a year earlier.

Exports increased by 25.7 percent year-on-year to 1.12 trillion ringgit while imports rose 23.3 percent year-on-year to 894.42 billion ringgit.

Meanwhile, its trade surplus for the period edged up by 36.2 percent to 221.53 billion ringgit.

In November 2021, Malaysia's trade with China, which accounted for 18.5 percent of Malaysia's total trade, climbed by 26.1 percent year-on-year to 37.92 billion ringgit, the 12th consecutive month of double-digit growth.

Malaysia's exports to China for the month grew 20.5 percent year-on-year to 17.14 billion ringgit, the third consecutive month of double-digit expansion since September 2021, driven by strong exports of manufactures of metal, liquefied natural gas (LNG) as well as chemicals and chemical products.

Malaysia's imports from China also increased by 31.2 percent year-on-year to 20.78 billion ringgit.

As for the 11 months of 2021, Malaysia's trade with China edged up by 27.2 percent to 378.95 billion ringgit from a year ago.

Malaysia's exports to China rose 19.7 percent year-on-year to 171.99 billion ringgit, led by higher exports of manufactures of metal, LNG, E&E products as well as chemicals and chemical products.

Its imports from China also increased by 34.2 percent year-on-year to 206.96 billion ringgit. (1 U.S. dollar equals 4.18 ringgit)