The Malaysian Ministry of International Trade and Industry (MITI) announced in a press release on March 20 that the total trade value of the Southeast Asian economy in February increased 11% annually, reaching 204.99 billion RM (45.68 billion USD).
Hanoi (VNA) – The MalaysianMinistry of International Trade and Industry (MITI) announced in a pressrelease on March 20 that the total trade value of the Southeast Asian economyin February increased 11%annually, reaching 204.99 billion RM (45.68 billion USD).
Of the figure, exports hiked by9.8% to 112.28 RM while imports rose by 12.4% to 92.71 billion RM. Notably,its trade surplus has been increasing for 34 consecutive monthssince May 2020, with a value of 19.56 billion RM.
MITI stated that trade, export and importreached the highest levels in February, with export growth being supported by crudeoil, liquefied natural gas, electrical and electronic (E&E) products.
ꦬ According to the ministry, Malaysia'sexports to key partners, especially ASEAN and the US, recorded double-digitgrowth. In February, Malaysia's trade with ASEAN partners accounted for 27.4%of its total trade value, up 10% year-on-year to 56.14 billion RM. Ofwhich, exports rose by 14.8% to 33.69 billion RM, marking the 19th consecutive month with a double-digit growth rate. Meanwhile, imports also wentup 3.5% to 22.45 billion RM./.
There is a really great potential for Vietnam and Malaysia to promote economic cooperation in the post-COVID-19 period, especially in trade and investment, according to an official from the Malaysian Ministry of International Trade & Industry (MITI).
There remains great potential for Vietnam and Malaysia to promote economic and trade cooperation, especially in information and communication technology (ICT), infrastructure investment, digital economy and Halal foods, according to Shan Saeed, chief economist and global investment strategist at Malaysia-based IQI Global.
Malaysia’s trade turnover witnessed a record high in June, hitting 270.39 billion RM (over 60.6 billion USD), up 43.4% year-on-year, which is a clear sign of strong and flexible development of the country’s economic foundations.
Malaysia’s trade rose by 15.6% year-on-year in November to 238.17 billion RMB (about 53.6 billion USD), marking the 22nd straight month of double-digit growth, according to the Malaysia External Trade Development Corporation (MATRADE).
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Illustrative image (Photo: AFP) 
