KUALA LUMPUR: Malaysia's total trade expanded 5.5 per cent year-on-year (YoY) to RM155.88 billion in September from RM147.69 billion, according to International Trade and Industry Ministry.
The ministry said the higher trade was recorded primarily with China, Hong Kong, the United States (US), the Netherlands and Taiwan.
Malaysia posted its highest monthly export value in September with a double digit growth of 13.6 per cent to RM88.93 billion from RM78.25 billion a year ago, while imports dropped 3.6 per cent to RM66.96 billion from RM69.44 billion.
The country's trade surplus surged 149.3 per cent YoY to RM21.97 billion from RM8.81 billion in September 2019, the highest trade surplus ever recorded for the month.
For the third quarter (Q3) of 2020, the total trade eased 0.5 per cent to RM460.87 billion from RM463.22 billion posted a year ago.
Malaysia's Q3 exports increased 4.4 per cent YoY to RM260.62 billion from RM249.53 billion previously, while imports contracted 6.3 per cent to RM200.25 billion from RM213.69 billion.
The Q3 trade surplus grew 68.4 per cent YoY to RM60.36 billion from RM35.83 billion a year ago.
For the first nine months, the ministry said trade surplus had seen a double-digit growth of 14.8 per cent to RM124.95 billion from RM108.85 million a year ago.
Malaysia's total trade during the period eased 5.2 per cent to RM1.29 trillion from RM1.36 trillion, mainly due to lower trade with Thailand, Singapore, India and Japan.
However, the ministry said higher trade was registered with the US, South Korea, China and Bahrain.
Exports during the period slipped 3.7 per cent to RM709.56 billion from RM736.83 billion, while imports declined 6.9 per cent to RM584.62 billion from RM627.98 billion.
Exports of manufactured goods in September, which made up 87.7 per cent of total exports, increased 16.3 per cent YoY to RM77.99 billion.
The expansion was due mainly to higher shipments of electrical and electronic (E&E) products, rubber products, other manufactures especially solid-state storage devices (SSD), iron and steel products as well as optical and scientific equipment.
"E&E products constituted 43.7 per cent of total exports valued at RM38.87 billion, palm oil and palm oil-based agriculture products (RM4.92 billion), rubber products (RM4.52 billion; chemicals and chemical products (RM4.36 billion) and optical and scientific equipment (RM4.31 billion)."
For the first nine months of 2020, exports of manufactured goods fell by 1.5 per cent YoY to RM611.35 billion due to lower exports of chemicals and chemical products, manufactures of metal, petroleum products as well as jewellery.
However, increases in exports were recorded for rubber products, other manufactures, iron and steel products as well as optical and scientific equipment.
Exports of agriculture goods improved 2.3 per cent to RM50.51 billion on higher exports of palm oil and palm oil-based agriculture products.
Meanwhile, exports of mining goods contracted by 27.2 per cent to RM44.48 billion due to lower exports of liquefied natural gas, crude petroleum as well as petroleum condensates and other petroleum oil.
The ministry said trade with Asean stood at RM38.79 billion in September, accounting for 24.9 per cent to Malaysia's total trade.
Exports during the months rebounded by 6.7 per cent to RM23.1 billion, backed mainly by higher exports of E&E products, while imports from Asean declined 7.4 per cent to RM15.69 billion.