Latest news with #Miti
Borneo Post
5 hours ago
- Business
- Borneo Post
Malaysia posts 17th consecutive month of trade growth
In a statement today, Miti says total trade increased by 2.6 per cent to reach RM252.48 billion, setting a new record for the highest monthly value ever posted in May. – Bernama photo KUCHING (June 20): Malaysia's trade performance continued its upward momentum last month, marking the 17th consecutive month of year-on-year growth since January last year, according to the Ministry of Investment, Trade and Industry (Miti). In a statement today, the ministry said total trade increased by 2.6 per cent to reach RM252.48 billion, setting a new record for the highest monthly value ever posted in May. 'Exports recorded a slight decrease of 1.1 per cent to RM126.62 billion, while imports grew by 6.6 per cent to RM125.86 billion. 'Malaysia also maintained a trade surplus for the 61st consecutive month since May 2020, amounting to RM766.3 million,' it added. Miti pointed out that exports of electrical and electronic (E&E) products continued to show resilient performance last month, registering an increase of nearly RM4 billion. 'This is consistent with the World Semiconductor Trade Statistics (WSTS) forecast of an 11.2 per cent increase in global semiconductor sales this year.' It stated that Malaysia, as a key player in the global semiconductor supply chain, stands to benefit significantly from this anticipated expansion. 'Nevertheless, potential challenges remain, notably the uncertainties in global economic conditions. While the sector's outlook remains positive, proactive policy responses will be crucial to sustain this growth momentum,' it added. 'By destination, exports to key trading partners including the United States and the European Union recorded robust growth, while exports to Taiwan not only expanded but also attained a new record-high.' The ministry said exports to Free Trade Agreement (FTA) partners, notably the United Kingdom and New Zealand, also recorded increases, primarily due to higher shipments of palm oil-based manufactured products. For the first five months of this year, it noted that trade, exports, and imports achieved their highest cumulative value on record. 'Trade rose 6.2 per cent to RM1.23 trillion compared to the corresponding period last year, with exports expanding 5.5 per cent to RM638.48 billion and imports up by 6.9 per cent to RM591.54 billion. 'Trade surplus stood at RM46.94 billion, a slip of 9.4 per cent,' it added. Recognising the impact of global trade uncertainties, Miti said together with the Malaysian External Trade Development Corp (Matrade), they are ramping up efforts to build resilience in the trade ecosystem. 'These strategic initiatives are also contributing to Malaysia's growing global competitiveness. In the World Competitiveness Ranking (WCR) 2025 published recently, Malaysia advanced 11 spots to the 23rd position among 69 economies. 'This marked the country's strongest performance since 2020 and signalled renewed investors' confidence in Malaysia's economic governance and policy direction.' malaysia Miti trade performance
The Star
12 hours ago
- Business
- The Star
Malaysia's trade remains on growth trend in May
KUALA LUMPUR: While overall trade value remained on the rise, Malaysia's exports were a slight 1.1% lower year-on-year (y-o-y) to RM126.62bil in May 2025, owing to a decrease in outbound shipments of manufactured and mining goods. Manufacturing exports fell a marginal 0.3% y-o-y to RM110.01bil owing to a drop in shipments of products related to petroleum, chemicals as well as iron and steel, said the Ministry of Investment, Trade and Industry (Miti) in its latest trade report. The decline in manufacturing exports, however, was cushioned by the robust shipments of electronic and electrical (E&E) products, machinery, equipment and parts as well as processed food. Malaysia's exports of mining goods fell 23.6% y-o-y to RM5.86bil on lower export volume of liquefied natural gas (LNG), as well as crude petroleum following the decrease in export volumes and prices. This was partially mitigated by an increase in exports of petroleum condensates and other petroleum oils. Meanwhile, exports of agricultural goods increased 8.3% y-o-y to RM9.81bil on higher exports of palm oil and palm oil-based agriculture products due to higher export volumes and prices. Malaysia's overall trade value in May, however, remained on an upward trajectory, rising 2.6% y-o-y to RM252.48bil, as the country chalked up a higher import value of RM125.86bil, a 6.6% increase from the same month a year ago. Malaysia maintained a trade surplus of RM766.3mil during the month. According to to Miti, exports to Asean trading partners dropped 10.9% y-o-y to RM35.74bil in May on lower demand for petroleum and E&E products. Shipments to China fell 4.3% y-o-y to RM15.05bil, underpinned by lesser exports of LNG, chemicals and chemical products as well as paper and pulp products. In contrast, exports to the US grew by double digits for an eighth consecutive month. The export value rose 16.1% y-o-y to RM18.68bil on robust exports of E&E products, processed food as well as machinery, equipment and parts. On imports, the value of intermediate goods declined 4.4% y-o-y to RM65.13bil due to lower imports of primary fuel and lubricants. Imports of consumption goods also contracted 1.1% y-o-y to RM10.07bil due to lower imports of primary food and beverages, mainly for household consumption. The inbound shipments of capital goods, however, surged 63.7% to RM22.72bil due to higher imports of non-transport capital goods. Over the five month period from January to May 2025, Malaysia's total trade rose 6.2% y-o-y to RM1.23 trillion. Exports rose 5.5% during this period to RM638.48bil while imports expanded 6.9% to RM591.54bil. The cumulative trade surplus stood at RM46.94bil, down 9.4% y-o-y.
Malay Mail
12 hours ago
- Business
- Malay Mail
Malaysia's trade hits RM252b in May, powered by E&E exports, says Miti
KUALA LUMPUR, June 20 — Malaysia's trade increased by 2.6 per cent in May 2025 to reach RM252.48 billion, marking the 17th consecutive month of year-on-year growth since January 2024, said the Ministry of Investment, Trade and Industry. In a statement today, it said exports recorded a slight decrease of 1.1 per cent to RM126.62 billion, while imports grew 6.6 per cent to RM125.86 billion. Trade surplus for the month stood at RM766.3 million, maintaining a trade surplus for the 61st consecutive month since May 2020. The ministry noted that exports of electrical and electronics (E&E) products continued to show resilient performance, registering an increase of nearly RM4 billion — consistent with the World Semiconductor Trade Statistics forecast of an 11.2 per cent increase in global semiconductor sales in 2025. 'As a key player in the global semiconductor supply chain, Malaysia stands to benefit significantly from this anticipated expansion. 'Nevertheless, potential challenges remain, notably the uncertainties in global economic conditions. While the sector's outlook remains positive, proactive policy responses will be crucial to sustain this growth momentum,' it said. According to Miti, trade, exports and imports achieved their highest cumulative value on record for the January to May 2025 period, with trade growing 6.2 per cent to RM1.23 trillion compared to the corresponding period in 2024. Exports expanded 5.5 per cent to RM638.48 billion and imports rose 6.9 per cent to RM591.54 billion, while the trade surplus slipped 9.4 per cent to RM46.94 billion. The ministry noted that exports to key trading partners, including the United States and the European Union recorded robust growth, while exports to Taiwan not only expanded but also attained a new record high. 'Exports to Free Trade Agreement (FTA) partners, notably the United Kingdom and New Zealand also recorded increases, primarily due to higher shipments of palm oil-based manufactured products,' it added. — Bernama
Borneo Post
a day ago
- Business
- Borneo Post
PM Anwar: Malaysia-US tariff talks went well
Anwar says discussions between Malaysia and the US on the imposition of US unilateral tariffs went smoothly. – Bernama photo KUALA LUMPUR (June 19): Prime Minister Datuk Seri Anwar Ibrahim said discussions between Malaysia and the United States (US) on the imposition of US unilateral tariffs went smoothly. Anwar, who is also the finance minister, said he was informed of the positive progress earlier today by Investment, Trade and Industry (Miti) Minister Tengku Datuk Seri Zafrul Abdul Aziz and Finance Minister II Datuk Seri Amir Hamzah Azizan, who are currently in the United States. 'This morning, I received a message from the Miti minister and the finance minister that their meeting with the US Secretary of Commerce, who has been extremely busy, (went) excellently,' he said in his keynote address at the 38th Asia-Pacific Roundtable: Recalibrating Asia's Frontiers, here today. The prime minister stressed that Malaysia has consistently relied on sound reasoning and principles to pursue what is fair and just, and he urged fellow Asean member states to adopt a similar approach. Tengku Zafrul arrived in the United States on Tuesday to initiate discussions on US reciprocal tariffs, ahead of the July 8 expiry of a temporary 90-day suspension. Malaysia currently faces a 24 per cent tariff on selected exports to the United States. The trade minister said his delegation's priority is to negotiate improved market access and address supply chain-related challenges. Meanwhile, Anwar said international trade must be governed by transparent rules and legal predictability, not by unilateralism or coercive economic measures. 'Disruptions in trade and supply chain will only leave detrimental effects on businesses and hamper economic growth, further impacting efforts towards ensuring the socioeconomic well-being of the people,' he added. He noted that the imposition of unilateral tariffs by the United States is a significant challenge to Malaysia and the region, as they are deeply plugged into global supply chains. 'Malaysia will continue to engage constructively with the United States, China, the European Union, India, and others in advancing our national interests. And let there be no doubt that Malaysia's strategy of active non-alignment is a deliberate and principled framework, designed to maximise strategic flexibility, preserve decision-making autonomy, and engage all partners on our terms,' he reiterated. Anwar said Malaysia looks forward to collaborating as a partner country of BRICS and finding new avenues of 'niche area' cooperation in the grouping. The recent reinvigoration of BRICS to include members and partner countries from the Middle East, Southeast Asia, Central Asia, Africa, and South America is the very essence of bridging regions, he added. 'It is an opportunity to build new partnerships and renew old ones. Contrary to reductionist perspectives on why several Southeast Asian countries are engaging BRICS, it is neither about taking sides nor moving away from the West,' he continued. 'It is a manifestation of agency, autonomy and trust in sustained cooperation to address shared challenges.'
The Star
2 days ago
- Business
- The Star
Tariff talks with Washington have been excellent, says Anwar
KUALA LUMPUR: Ongoing negotiations with the US over its unilateral tariffs are going very well, says Datuk Seri Anwar Ibrahim ( pic ). The Prime Minister said this was conveyed by Investment, Trade and Industry (Miti) Minister Tengku Datuk Seri Zafrul Abdul Aziz and Finance Minister II Datuk Seri Amir Hamzah Azizan, who are both currently in Washington DC leading the talks. 'This morning, I received a message from the Miti Minister and the Finance Minister II, that the meetings with the US Secretary of Commerce have been excellent. 'We always emphasised the need to secure what is fair for Malaysians and always represent the case for Asean,' said Anwar in his keynote address at the 38th Asia-Pacific Roundtable in KL on Thursday (June 19). 'I have also urged my colleagues in Asean to do likewise, present bilateral positions and emphasise the need for Asean to remain as a cohesive force,' added Anwar. Tengku Zafrul and Amir flew to Washington DC on June 18 to continue negotiations over the US tariffs imposed on Malaysian goods. It was previously reported that Tengku Zafrul was scheduled to meet US trade representative Jamieson Greer and other officials, investors, and business groups including the American Malaysian Chamber of Commerce. Malaysia faces a 24% tariff on certain exports to the US unless both sides can reach an agreement before the 90-day pause ends on July 8
