Malaysia's total trade in March declined 1.6% year-on-year (y-o-y) to RM232.72bil.
The Ministry of Investment, Trade and Industry announced today that exports for the month amounted to RM129.71bil, down 1.4% from the same month in 2022, while imports declined 1.8% to RM103.01bil.
For the first quarter of 2023, trade grew 3.2% to RM644.87bil as compared with the same quarter in 2022. Malaysia registered a 3% contraction in trade value with its largest trading partner, China, as exports shrank 6.2% to RM16.68bil as a result of lower exports of E&E products. The decline was partially offset by higher exports of petroleum products, optical and scientific equipment as well as machinery, equipment and parts.
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