Malaysia posts trade surplus for 22nd straight year

Malaysia posts trade surplus for 22nd straight year

the Sun Daily - Business·2020-02-04 13:12

PETALING JAYA: Malaysia recorded a trade surplus for 2019, marking the 22nd consecutive year of trade surplus for Malaysia since 1998, despite a 2.5% decline in total trade to RM1.8 trillion, compared with RM1.9 trillion in 2018.

In a statement, Department of Statistics chief statistician Datuk Seri Mohd Uzir Mahidin said exports declined by 1.7% to RM986.4 billion, while imports were lower by 3.5% to RM849 billion, resulting in a trade surplus of RM137.4 billion.

“The decline in total trade was due to lower demand from Malaysia’s major trading partners. Lower trade was recorded with Singapore, Hong Kong, the European Union, Thailand, Japan, Indonesia, Taiwan and Republic of Korea,” he said.


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