Malaysia’s exports fell by 18.6% to RM115.16 billion in August 2023.
PETALING JAYA: Malaysia has experienced a substantial drop in both its imports and exports, according to the investment, trade and industry ministry .
Despite the declining figures, Malaysia has continued to register its 40th consecutive month of trade surplus in August, registering a y-o-y growth of 0.1% to RM17.31 billion. Manufactured goods exports, which accounted for 85.4%, or RM98.36 billion of total exports, dropped by 17.7% y-o-y following reduced demand for electrical and electronic products, petroleum products as well as palm oil-based manufactured products.
Trade with China, accounting for 16.7% or RM35.65 billion of Malaysia’s overall trade, experienced a decline of 18.7% y-o-y.
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