Malaysia has recorded a great success when the country's trade exceeded RM2 trillion in just the first nine months of 2024.
In September alone, trade jumped by 4.7% compared to last year, with a value reaching RM234.84 billion.
Exports accounted for RM124.01 billion while imports were valued at RM110.83 billion, making Malaysia have a trade surplus of RM13.19 billion.
The United States now emerged as Malaysia's largest trading partner, with trade value increasing by 20.6% to RM27.06 billion.
On the other hand, trade with China shrank by 2.2%.
Overall, trade with major trading partners such as ASEAN, the EU, and Taiwan has accounted for 67.6% of Malaysia's total trade.
In the export sector, palm oil continued to record a significant increase of 11.1%, while electrical and electronic products continued to be the country's main export, despite a slight decline.
Imports jumped by 16.1%, showing massive investment in industry and the growth of the country's infrastructure.
This trade performance clearly shows that Malaysia is becoming more efficient and ready to compete in the global economic arena.
