Wednesday, July 24

Malaysia’s total trade up 7.6 per cent to RM125.02 billion in November 2015

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KUALA LUMPUR: Malaysia’s total trade rose 7.6 per cent to RM125.02 billion in November 2015, from the RM116.19 billion recorded in the same month in 2014 due to stronger exports.

The International Trade and Industry Ministry (Miti) in a statement said exports in November grew 6.3 per cent year-on-year to RM67.63 billion, while imports expanded by 9.1 per cent to RM57.39 billion. This was the 217th consecutive month of trade surplus recorded since November 1997 and despite the trade surplus being 6.9 per cent lower at RM10.23 billion for November 2015.

The stronger exports were supported by robust demand from major markets mainly ASEAN, the European Union, China and the United States.

For the January-November 2015 period, cumulative exports were valued at RM711.65 billion compared with the RM698.06 billion recorded in the same period in 2014, with imports totalling RM625.34 billion compared with RM624.48 billion previously.

The trade surplus for the first 11 months of 2015 increased to RM86.31 billion, up 17.3 per cent, from the same period in 2014.

On a sectoral basis, Miti said exports of manufactured goods for November 2015 grew by 9.0 per cent to RM54.03 billion, while exports of agricultural goods increased 9.2 per cent to RM5.64 billion and mining goods declined 11 per cent to RM7.6 billion.

For the January-November 2015 period, on the other hand, major exports were electrical and electronics products valued at RM253.12 billion, up 8.7 per cent, from the same period in 2014.

Other exports included chemicals and chemical products (RM50.45 billion), petroleum products (RM50.95 billion), palm oil and palm-based products (RM41.92 billion) and LNG (RM43.27 billion). — Bernama