Penang the largest contributor to Malaysia's exports in October

KUALA LUMPUR (Nov 28): Malaysian exports rose 15% year-on-year to RM131.6 billion in October 2022, with Penang posting the highest exports at RM7.1 billion.

Malaysia's total trade in October jumped 21% to RM245.2 billion.

In a statement, the Department of Statistics Malaysia (DOSM) said according to the export-import statistics by state for October released on Monday (Nov 28), higher exports were also recorded in most states such as Johor (RM4.8 billion), Sarawak (RM3.7 billion), Labuan (RM1.7 billion), Sabah (RM1.4 billion), Kedah (RM1.0 billion), Negeri Sembilan (RM453.2 million), Perlis (RM43.5 million), Kuala Lumpur (RM41.8 million), Melaka (RM38.0 million) and Kelantan (RM17.7 million). 

However, exports decreased in Selangor (RM1.8 billion), Terengganu (RM581.2 million), Perak (RM404.6 million), and Pahang (RM330.6 million).

Malaysia’s total trade for October amounted to RM245.2 billion, an increase of 21.1% year-on-year, with exports of RM131.6 billion (15%) and imports worth RM113.5 billion (29.2%).

Chief statistician Mohd Uzir Mahidin said imports also increased by RM25.6 billion (29.2%) in October on year.

"The increase in imports was due to the higher imports in most states such as Johor (RM14.1 billion), Selangor (RM4.3 billion), Melaka (RM1.9 billion), Kedah (RM1.8 billion), Pulau Pinang (RM1.7 billion), Sarawak (RM929.3 million), Negeri Sembilan (RM353.0 million), Kuala Lumpur (RM164.6 million), Pahang (RM144.6 million), Sabah (RM107.8 million), Kelantan (RM39.8 million) and Perlis (RM26.3 million).

However, imports decreased in Terengganu (RM346.0 million), Labuan (RM52.5 million), and Perak (RM32.5 million).

Mohd Uzir said among the top five major exporting states, Penang remained the top exporter with a share of 29.6%, followed by Johor (21.9%), Selangor (17.1%), Sarawak (9.0%) and Wilayah Persekutuan Kuala Lumpur (4.3%). 

For imports, Johor was the largest contributor with a share of 28.0%, followed by Selangor (24.0%), Penang (20.8%), Kedah (6.5%) and Kuala Lumpur (5.7%).

Source : The Edge Market