by ASILA JALIL / pic by TMR FILE

MALAYSIA’S exports increased by 63% year-on-year (YoY) in April to RM105.6 billion driven by exports of manufactured goods which were up 65.5% YoY to RM91.6 billion.

Moody’s Analytics said in a note today that the country’s burgeoning trade performance has been a bright spot among Southeast Asia economies.

“Exports surged by 63% YoY, but the strong growth rate is inflated by the low base effect, when exports nosedived during the peak of the pandemic and the subsequent full lockdown last year. But on an encouraging note, exports still rose by 0.6% month-on-month,” it said.

Exports of agricultural goods increased by 66.9% YoY to RM7.8 billion and mining rose by 24.5% YoY up to RM5.7 billion.

Trade surplus came in at RM20.48 billion in April while imports stood at RM85.1 billion.