Malaysia Exports Rise to Fresh Record High
Exports from Malaysia jumped by 29.2 percent from a year earlier to a new record high of MYR 123.8 billion in December 2021, beating market consensus of a 24.6 percent rise, following a 32.4 percent growth in the prior month, amid a further recovery in global demand and surging commodity prices. Sales grew for all sectors: manufactured goods (28.4 percent), mining (37.0 percent), and agricultural goods (32.5 percent). The expansion in the manufacturing sector was mainly boosted by higher exports of electrical and electronic products (36.1 percent), followed by petroleum products (25.6 percent), manufacture of metal (26.5 percent), and chemical and chemical products (36.3 percent). Among major trading partners, exports advanced to the US (33.4 percent), China (28.8 percent), Singapore (21.8 percent) and the ASEAN countries (31.4 percent). For the whole year, exports soared 26.0 percent from a year earlier to MYR 1,239.80 billion.
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