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Thursday, 07 Jun, 2018

Malaysia's exports expand 14 per cent YoY to RM84.24bil in April

Malaysia’s exports grows 14 per cent year-on-year (YoY) to RM84.24 billion in April from RM73.79 billion a year ago, according to Department of Statistics. Picture by REUTERS.

KUALA LUMPUR: Malaysia’s exports grew 14 per cent year-on-year (YoY) to RM84.24 billion in April from RM73.79 billion a year ago, according to the International Trade and Industry Ministry.

This was the second highest monthly exports value after the RM84.47 billion recorded in March, the ministry said.

The growth was supported mainly by higher exports to Hong Kong, Asean, China, the European Union (EU), Taiwan, Bangladesh and South Korea .

Imports rose 9.1 per cent YoY to RM71.17 billion from RM65.21 billion a year ago, while total trade rebounded 11.7 per cent YoY to RM155.42 billion from a decline of 3.5 per cent in March.

Trade surplus was recorded at RM13.07 billion, the 246th consecutive month of surplus since November 1997.

On a month-on-month (MoM) basis, the department’s data revealed that imports and total trade had grown two per cent and 0.8 per cent, while exports and trade surplus contracted by 0.3 per cent and 11 per cent respectively.

Total trade for the first four months of 2018 rose 4.9 per cent to RM597.3 billion from RM569.7 billion recorded in the same period in 2017.

Exports increased 7.8 per cent to RM321.87 billion, while imports were higher by 1.6 per cent to RM275.43 billion from RM271.03 billion a year ago. This led to a 68.7 per cent surge in trade surplus to RM46.44 billion.

The ministry said the export performance in April was largely fuelled by the electrical and electronic (E&E) products, whose value of RM31.84 billion constituted 37.8 per cent of total exports.

The E&E sector grew 21.2 per cent in April compared to RM26.2 billion recorded in April 2017. Petroleum products grew 16.7 per cent to RM6.39 billion, constituting about 7.6 per cent of total exports for April 2018.

Manufactures of metal rose 42.8 per cent to RM4.71 billion in April 2018, making up about 5.6 per cent of the country’s total exports.

Chemicals and chemical products grew 17.8 per cent to RM4.58 billion, contributing about 5.4 per cent of the total exports.

Palm oil and palm oil-based agriculture products decreased 0.8 per cent to RM4.19 billion, constituting about five per cent of Malaysia’s total exports.

Meanwhile, exports of manufactured goods grew 10.4 per cent to RM266.94 billion in the first four months of 2018 led by higher exports of E&E products, manufactures of metal, chemicals and chemical products, transport equipment as well as optical and scientific equipment.

Exports of mining goods increased 0.9 per cent to RM27.93 billion, supported mainly by higher exports of crude petroleum.

Exports of agriculture goods contracted 8.7 per cent to RM23.83 billion, owing to lower exports of palm oil and palm oil based agriculture products as well as natural rubber.

Source : New Straits Times

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