KUALA LUMPUR: Malaysia’s total trade in August 2014 increased to RM123.90 billion from the RM118.58 billion recorded in the same month last year.
The trade surplus, meanwhile, stood at RM3.86 billion.
The Ministry of International Trade and Industry (Miti) in its Malaysia External Trade Statistics report said exports in August expanded 1.7 per cent, year-on-year to RM63.88 billion, while imports surged 7.6 per cent to RM60.02 billion.
“Increases in trade were recorded with Singapore which rose by RM1.80 billion, the United States (RM870.50 million), India (RM870.40 million), Japan (RM819.80 million) and Thailand (RM500.70 million),” it added.
For the eight-month period, Malaysia’s total trade grew 7.9 per cent to RM957.95 billion compared with the same period last year, while the trade surplus expanded 52.4 per cent to RM52.31 billion.
Exports were higher by 9.5 per cent to RM505.13 billion, with imports rising 6.1 per cent to RM452.82 billion.
Miti said trade with the free trade agreement partner countries expanded 6.2 per cent to RM601.15 billion, with export rising 8.0 per cent to RM323.86 billion, while imports were 4.2 per cent higher at RM277.28 billion.
“Exports to Asean rose 6.9 per cent to RM141.28 billion and imports grew 4.5 per cent to RM118.04 billion, registering a total trade of RM259.31 billion which accounted for a 27.1 per cent share of total trade.
“Higher exports to Asean was contributed by petroleum products, crude petroleum, palm oil, chemicals and chemical products, and, electrical and electronic products,” it added. — Bernama