KUALA LUMPUR, Jan 28 — Malaysia’s external trade registered another historic performance in 2021, surpassing RM2 trillion for the first time, as well as recording the fastest growth since 1994.
“Trade surplus was posted for 24 consecutive years since 1998. These remarkable achievements were driven by robust external demand and higher commodity prices,” he said in a statement today. “Significant export expansion was also registered to emerging markets such as Costa Rica, Kenya, Egypt, Nigeria, Ghana, and Iraq. Exports to free-trade agreement partners showed an upward trajectory with a new high value after two consecutive years of contraction.
Mohamed Azmin said the resilient growth was boosted by strong exports of electrical and electronics products, petroleum products, manufactures of metal, palm oil and palm oil-based agriculture products, rubber products, and chemicals and chemical products, each posted a record high value with double-digit expansion.
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