Total trade hit RM2.77 trillion for the same period, Bernama reported.

Malaysia External Trade Development Corporation (Matrade) chairman Reezal Merican Naina Merican said this marks the fifth consecutive year Malaysia has broken the trillion-ringgit trade barrier, putting the country on track to set a new full-year record.

He said that compared with the same period last year, exports rose by nearly 6.1%, trade increased by 5.8%, and imports grew by about 5.6%.

“Meanwhile, the country’s trade surplus for the same period was recorded at RM132.5 billion, an increase of 10.7%, reflecting strong external trade performance,” he said after attending a programme in Kepala Batas today.

Reezal said export growth was largely driven by strong demand for semiconductor products, which grew 17.5%, pharmaceuticals, which rose 22.9%, and optical and scientific products, which increased by around 10%.

In terms of key markets, Asian countries remained Malaysia’s largest export destination, followed by the US, China, the European Union and Hong Kong, with these five markets accounting for nearly 68.5% of total exports.

Additionally, trade with countries with free trade agreements showed positive performance, increasing by 3.2%. They included Mexico, Hong Kong, China, the United Arab Emirates, Chile, the UK, and Canada.

There was also a marked increase in exports to new and emerging markets, particularly in Africa and Central Asia.

Yemen saw a 62% rise in exports followed by Tanzania (37%), Togo (30%), Uzbekistan (23%), Kenya (12%), Nigeria (15%) and Algeria (24%).

Reezal was optimistic that Malaysia would record its highest export and trade values in history when the full performance figures for this year are announced on Jan 19.

“Last year, it was RM1.51 trillion, and the previous high was RM1.55 trillion in 2022.”