Malaysia’s exports continue to grow at a robust pace

Malaysia’s exports continued to grow at a robust pace thanks to a strong demand for electrical products and electronics and higher commodity prices.

According to Alliance DBS Research chief economist Manokaran Mottain, the solid expansion in exports thus far indicates that Malaysia’s gross domestic product (GDP) growth in the second quarter of this year would still remain strong.

Export growth of Malaysia remains solid mainly due to the strong performance of electrical and electronic exports and the continued rebound in the oil, gas, power and utility shipment, which contributed 7.9% and 2.1% to export growth, respectively. The double-digit export growth continues and has been the longest positive growth streak since January 2019.

Malaysia tends to establish strong partnerships in Asia and Europe and sign new trade agreements with international manufacturers and customers.

Along with electrical and electronic products, Malaysia's top exports are:

1. Petroleum and gas

2. Mobile phones

3. Semiconductors

4. Fruits and vegetables

5. Rubber

6. Wood and wood products

7. Optical and scientific equipment