Malaysia exports rise 6.6 pct in January on higher E&E, rubber products

Malaysia's exports in January rose 6.6 percent from a year ago to 89.63 billion ringgit (about 22.13 billion U.S. dollars), driven by the increase in global demand notably for electrical and electronic (E&E) and rubber products as well as front-loading activities prior to the festive season.

The Malaysian International Trade and Industry Ministry said in a statement today, higher exports were seen to China, the United States, Vietnam and Singapore.

Meanwhile, imports in January 2021 expanded by 1.3 percent year-on-year to 73.02 billion ringgit; total trade rose by 4.1 percent to 162.65 billion ringgit.

Manufactured goods which contributed to 88.5 percent of total exports, grew 11.7 percent year-on-year to 79.36 billion ringgit, supported mainly by higher exports of E&E products which was driven by rising demand for various electronic products notably in automotive industry, 5G network and smart devices.

"Exports of rubber products, especially rubber gloves, showed resilient performance, registering triple-digit growth for five consecutive months," said the ministry.

Exports of agriculture goods, however, decreased by 7.2 percent year-on-year to 5 billion ringgit, mainly due to lower exports of palm oil and palm oil-based agriculture products.