Chief statistician Uzir Mahidin said exports rose by 4.1% to RM126.6 billion while imports increased by 1.6% to reach RM111.3 billion.

The trade surplus escalated by 26.3% to reach RM15.3 billion, the 55th consecutive month of surplus since May 2020.

“Malaysia’s exports increased in line with the rise in domestic exports in November 2024.

“Domestic exports (83.3% of total exports) were up by 10.3% to RM105.4 billion compared with November 2023,” he said in Malaysia External Trade Statistics for November 2024.

Re-exports (16.7% of total exports), fell 18.7% to RM21.2 billion, he said.

The higher exports were attributable mainly to the US (+RM7.4 billion), followed by Taiwan (+RM2.5 billion), Kenya (+RM645.2 million), India (+RM497.9 million), Bangladesh (+RM382.4 million), Mexico (+RM265.9 million) and New Zealand (+RM220.9 million).

The higher imports were mainly contributed by China (+RM2.3 billion), followed by Taiwan (+RM2.1 billion), Mexico (+RM784.5 million), Chad (+RM659.8 million), India (+RM460.6 million), Switzerland (+RM410.8 million) and Cameroon (+RM375.3 million).

Uzir said the rise in imports was logged for electrical and electronic products (+RM6.6 billion); agriculture (+RM536.1 million); vegetable oil (+RM358.1 million); processed food (+RM286.8 million); liquefied natural gas (+RM189.6 million); and other manufactures (+RM185.1 million).

Compared with October 2024, Uzir said exports, imports and total trade shrunk by 1.2%, 4.3%, and 2.7%, respectively.

Nonetheless, the trade balance recorded an improved 28.8%.