Malaysia’s May trade rose to RM116 billion

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Exports for the month declined to RM59.92 billion from RM60.45 billion, a year ago, while imports increased to 56.66 billion from RM54.94 billion, previously. — AFP photo

Exports for the month declined to RM59.92 billion from RM60.45 billion, a year ago, while imports increased to 56.66 billion from RM54.94 billion, previously. — AFP photo

KUALA LUMPUR: Malaysia’s total trade for May rose slightly by RM1.18 billion to RM116.58 billion from RM115.39 billion recorded in the same month last year, supported by exports of manufactured goods.

The International Trade and Industry Ministry (Miti), in a statement yesterday said that exports for the month declined to RM59.92 billion from RM60.45 billion, a year ago, while imports increased to 56.66 billion from RM54.94 billion, previously.

It said exports of manufactured goods increased 2.7 per cent to RM50.16 billion for May driven by higher exports for, among others, electrical and electronic products, chemicals and chemical products, optical and scientific equipment.

However, it said exports of agricultural goods for May decreased 0.2 per cent or RM8.4 million to RM5.54 billion with lower exports of palm oil and palm-based agriculture products.

Exports of mining goods also decreased 32.6 per cent to RM3.84 billion, it said.

Nevertheless, the ministry added that trade surplus stood at RM3.26 billion, making it the 223rd consecutive month of trade surplus recorded since November 1997.

Meanwhile, cumulative trade from January to May rose marginally to RM576.6 billion from RM574.44 billion recorded in the same period last year, supported by expansion in trade with United States, China, Asean, Turkey, Mexico and the European Union.

It said exports for the period grew 0.8 per cent to RM306.42 billion while imports decreased marginally by RM189.8 million to RM270.17 billion compared with the same period last year.

Exports of manufactured goods grew RM12.8 billion to RM253.63 billion, accounting for 82.8 per cent of Malaysia’s total exports.

The increase was supported mainly by higher exports of electrical and electronic products, manufactures of metal, machinery, equipment and parts, optical and scientific equipment, chemicals and chemical products and processed food.

The ministry said trade surplus expanded 7.5 per cent to RM36.25 billion against RM33.71 billion recorded in the corresponding period of 2015. It added that higher trade was recorded with Asean which grew 5.4 per cent, China (up 2.4 per cent), US (up 11.9 per cent) and European Union (up 3.8 per cent). — Bernama