Selangor has reported a total trade value of RM639.2 billion from January to September 2024, accounting for 29.9% of the nation's total trade. This marks a 13.9% increase compared to the same period last year.
State Executive Councillor for Investment, Trade, and Mobility Ng Sze Han revealed that the state's total exports amounted to RM264 billion, contributing 23.7% of Malaysia's exports. Selangor also accounted for 36.6% of the country's imports, totalling RM1.2 billion.
Ng highlighted that Selangor's key trade products included machinery and equipment, valued at RM273.35 billion, manufactured goods at RM101.99 billion, chemicals at RM78.65 billion, various manufactured articles at RM65.35 billion, and food at RM46.37 billion.
The state's top trade partners are China (23.9%), the United States (12.1%), Japan (6.5%), Indonesia (4.4%), and India (4.1%), Ng added during the Selangor State Legislative Assembly sitting.
Responding to an inquiry from Datuk Seri Mohamed Azmin Ali (PN-Hulu Kelang) about Selangor's trade performance, Ng also pointed to the significant improvement following Malaysia's participation in the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in 2022.
Before Malaysia's involvement in these trade agreements, the average trade recorded over three years stood at RM615.44 billion. After joining the RCEP and CPTPP, the average trade value rose to RM738.47 billion, Ng said.
