KUALA LUMPUR – Malaysia’s trade has dropped by 5.2% to RM1.294 trillion between January and September, compared to the same period last year, said the International Trade and Industries Ministry (Miti).
In a written reply to a question by Teh Kok Lim (Taiping-Pakatan Harapan) yesterday, the ministry said the loss was due to operational constraint during the movement control order (MCO) coupled with the global lockdown to prevent the spread of Covid-19.
“Export shrank by 3.7% to RM709.56 billion and import was down by 6.9% to RM584.62 billion.
“Trade surplus was recorded at RM129.94 billion, a 14.8% increase when compared to the same period in 2019,” said the reply.
The ministry identified sectors weakened by lower exports such as liquified petroleum gas, chemicals and chemical products, metal manufacturing, raw petroleum and petroleum products.
However, it said other business opportunities for other sectors such as rubber had increased.
“National rubber gloves export increased, backed by high demand from the global market following the Covid-19 pandemic.
“Medical equipment such as electrodiagnostic apparatus, disinfectants and surgical masks exports have also increased,” it said. – The vibes, November 13, 2020
