KUALA LUMPUR (Oct 28): The Department of Statistics Malaysia (DOSM) said on Thursday the country's exports recorded the highest monthly value of RM110.8 billion in September 2021 after increasing 24.7% from a year earlier, supported by domestic exports and re-exports.

Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said in a statement that imports increased 26.5% to RM84.7 billion. On the country's exports, he said September 2021 was the 13th consecutive month of year-on-year (y-o-y) expansion for the nation's exports since September 2020.

"Domestic exports amounted to RM87.7 billion and contributed 79.1% to total exports, expanded by 22.4%. On the same note, re-exports with a value of RM23.2 billion grew by 34.1%, y-o-y.

"Imports in September 2021 totalled RM84.7 billion, continued to register a growth of 26.5% or RM17.7 billion as compared with same month in 2020.

"(For September 2021,) trade surplus expanded by 19.1% to RM26.1 billion. Along with the recovery in domestic economic activity due to the implementation of (the) National Recovery Plan in June 2021, the month-on-month performances of exports, imports, total trade and trade surplus were also showing sturdy growth of 16%, 14.2%, 15.2% and 22.2%, respectively.

"In conjunction (with) the annual growth, 168 out of 254 commodity groups for exports showed increases as compared with the same period of previous year. As for imports, 147 of 260 groups posted positive growth," he said.

According to the DOSM's statement, Malaysia's total trade, which combines the values of the nation's exports and imports, grew 25.5% to RM195.5 billion.

The DOSM reported that the rise in exports was due mainly to higher exports to Singapore (+RM4 billion) followed by China (+RM3 billion), the US (+RM2 billion), Indonesia (+RM1.7 billion), India (+RM1.4 billion), Hong Kong (+RM1.1 billion), and Japan (+RM879.4 million).

"Meanwhile, China continued to be the major contributor to the increase in imports (+RM4.6 billion), followed by Singapore (+RM2.1 billion), the European Union (+RM1.9 billion), Indonesia (+RM1.6 billion), Taiwan (+RM1.5 billion), the US (+RM1 billion) and Republic of Korea (+RM930.7 million)," the DOSM said.

In terms of products, the DOSM said the expansion in exports was driven by among others, petroleum products, manufacture of metals besides palm oil-based and electrical and electronics (E&E) items.

Meanwhile, the rise in imports was seen in products including E&E items, crude petroleum and chemical products, according to the DOSM.

"On the same note, expansion in imports by end use (was) sustained by higher demand for intermediate goods, capital goods and consumption goods," the DOSM said.