Malaysia’s exports up 15.6% in November

KUALA LUMPUR: Malaysia's exports rose by 15.6 per cent year on year to 130.24 billion ringgit ($29 billion) in November, official data revealed on Monday.

Export expansion was underpinned by strong exports of electrical and electronic (E&E) products, liquefied natural gas (LNG), petroleum products as well as crude petroleum, the Ministry of International Trade and Industry (MITI) said in a statement.

According to the statement, E&E products, valued at 53.16 billion ringgit and accounted for 40.8 per cent of the total exports, increased by 32.1 per cent from November 2021, reports Xinhua news agency.

Petroleum products, valued at 12.33 billion ringgit and comprised 9.5 per cent of total exports, rose 26.4 per cent year on year.

LNG, valued at 6.62 billion ringgit and accounted for 5.1 per cent of total exports, surged by 69.5 per cent year on year.

Meanwhile, Malaysia's trade expanded by 15.6 per cent year on year to 238.17 billion ringgit in November.

Imports for the month were higher by 15.6 per cent to 107.93 billion ringgit and trade surplus increased by 15.6 per cent to 22.3 billion ringgit.

For the period of January to November, Malaysia's trade expanded by 29.9 per cent to 2.61 trillion ringgit compared to the same period last year.

Exports increased by 27.2 per cent year on year to 1.42 trillion ringgit, while imports rose by 33.3 per cent year on year to 1.19 trillion ringgit.