Overview

Malaysia's trade performance in August 2024 grew strongly, rose by a double-digit along with encouraging trading activities. Total trade recorded an increase of 18.6 per cent or RM39.6 billion to reach a value of RM252.7 billion as compared to RM213.0 billion in the previous year.

Imports and exports showed positive trend in August 2024 with the increase of 26.2 per cent or RM97.9 billion to RM123.5 billion in imports and 12.1 per cent or RM115.2 billion to RM129.2 billion in exports. Trade balance recorded a surplus of RM5.7 billion, down by 67.3 per cent from RM17.3 billion in August 2023. As compared to July 2024, exports, imports, total trade and trade surplus recorded a negative growth of 1.5 per cent, 1.0 per cent, 1.2 per cent and 11.5 per cent, respectively. 

Exports, imports and total trade for period of January to August 2024 rose by 6.0 per cent, 16.8 per cent and 10.9 per cent, respectively, as compared to the same period of preceding year. Meanwhile, trade surplus declined by 49.2 per cent.

Chart 1 : Trade Performance: Monthly, Quarterly & Annually

Performance of Exports 

Chart 2 :  Domestic Exports, Re-Exports (RM billion) and Annual Change (%)

                                                                                                                          Chart 3 :  Actual Export Value and Seasonally Adjusted Export Value, RM billion

Performance of Imports

Malaysia's imports in August 2024 continued to grow by 26.2 per cent or RM25.6 billion, to post a value of RM123.5 billion as compared to August 2023. As compared to July 2024, imports down by 1.0 per cent or RM1.2 billion. Analysis in seasonally adjusted terms, m-o-m, imports also rose by 1.1 per cent to RM122.3 billion.

Chart 4 : Imports, Value (RM billion) and Annual Change (%)

Chart 5 : Actual Import Value and Seasonally Adjusted Imports Value, RM billion

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