Trade reaches record high of RM270 billion in June, says Azmin

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Minister of International Trade and Industry Mohamed Azmin Ali says the country is maintaining the positive momentum of economic growth through the export segment, driven by encouraging performance in domestic exports and re-exports. – The Malaysian Insight file pic, July 24, 2022.

TRADE recorded double-digit growth of 43.3% year-on-year in June 2022, reaching a record high of RM270 billion, Minister of International Trade and Industry Mohamed Azmin Ali said.

According to Azmin, Malaysia managed to maintain the positive momentum of economic growth through the export segment driven by encouraging performance in domestic exports and re-exports.

“With solid determination and shared responsibility, I am confident that the Ministry of International Trade and Industry (Miti) and the Malaysia External Trade Development Corporation (Matrade) will maintain a positive momentum in facing the tide of boosting economic growth,” he tweeted today.

Malaysia’s exports increased 38.8% year-on-year to RM146 billion in June 2022, growing for the 22nd consecutive month since September 2020, while imports increased 49.3% year-on-year to RM124 billion.

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In another tweet, Azmin commented on the European Chamber of Commerce and Industry (Eurocham) Malaysia news report regarding the continuous transfer of the latest automation technology from Europe to Malaysia.

On July 22, Eurocham Malaysia said the European business community is grateful to the Malaysian government for actively supporting business recovery and deferring the requirement of at least 80% of the local workforce to be placed in a company for two years.

“In our commitment to actively support business recovery, Miti takes active and practical decisions in ensuring sustainable business continuity.

“We will continue to engage and listen to our stakeholders to boost the country’s economic recovery through various initiatives including dialogue sessions with chambers of commerce and industry to ensure a shared prosperity for all,” he added. – Bernama, July 24, 2022.


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