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Malaysia’s total trade reached record high of RM270.39b in June

Malaysia’s total trade recorded year – on – year (y – o – y) double – digit growth of 43.3% in June 2022, reaching a record high of RM270.39 billion, Senior Minister of International Trade and Industry Datuk Seri Mohamed Azmin Ali said.

He said Malaysia managed to maintain the positive momentum of economic growth through the export segment driven by encouraging performances of domestic exports and re-exports.

“With solid determination and shared responsibility, I am confident that the Ministry of International Trade and Industry (MITI) and the Malaysia External Trade Development Corp (MATRADE) will maintain a positive momentum in facing the tide of boosting economic growth,” he said in a tweet on Sunday.

Malaysia’s exports increased 38.8% y – o – y to RM146.16 billion in June, growing for the 22nd consecutive month since September 2020 while imports increased 49.3% y – o – y to RM124.23 billion.

In another tweet, Mohamed Azmin commented on a news report by the European Chamber of Commerce and Industry Malaysia (EUROCHAM Malaysia) regarding the continuous transfer of the latest automation technology from Europe to Malaysia.

On Friday, EUROCHAM Malaysia said the European business community was grateful to the Malaysian government for actively supporting business recovery and deferring implementing the requirement of at least 80% of the local workforce to be placed in a company for two years.

“In our commitment to actively supporting business recovery, MITI takes proactive and practical decisions in ensuring sustainable business continuity.

“We will continue to engage and listen to our stakeholders to boost the country’s economic recovery through various initiatives including dialogue sessions with chambers of commerce and industry to ensure a shared prosperity for all,” he added.

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