Malaysia's June Exports Rose 27.2 Pct With Record High Export To China
Sumaira FH 2 months ago Wed 28th July 2021 | 01:15 PM
Malaysia's exports rose 27.2 percent to 105.47 billion ringgit (about 24.93 billion U.S. dollars) from a year earlier in June as exports to China surged to record high
KUALA LUMPUR, (UrduPoint / Pakistan Point News - 28th Jul, 2021 ) :Malaysia's exports rose 27.2 percent to 105.47 billion ringgit (about 24.93 billion U.S. Dollars) from a year earlier in June as exports to China surged to record high.
Malaysia's International Trade and Industry Ministry said in a statement that the export growth was contributed by strong demand for petroleum products, electrical and electronic (E&E) products, mainly electronic integrated circuits used in the production of smartphones, cars, computers and home appliances as well as rubber products.
Meanwhile, Malaysia's trade increased by 29.3 percent year on year to 188.
Malaysia's Socio-Economic Research Center executive director Lee Heng Guie said Malaysia's June exports were stronger than expected despite the impact of the lockdown which has limited the manpower in the export sector.
However, he noted that the favorable low base effects enjoyed in the first half will be dissipated in the second half.