KUALA LUMPUR: Malaysia’s total trade for the period of January to May rose marginally to RM576.6 billion from RM574.44 billion recorded in the same period last year, supported by expansion of trade with the US, China, Asean, Turkey, Mexico and the European Union (EU).
The International Trade and Industry Ministry (Miti) in a statement said the trade surplus expanded by 7.5 per cent to RM36.25 billion as against RM33.71 billion recorded in the corresponding period of 2015.
It said exports grew by 0.8 per cent to RM306.42 billion while imports decreased marginally by RM189.8 million to RM270.17 billion compared to the same period last year.
Exports of manufactured goods grew by 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 electronics products, manufactures of metal, machinery, equipment and parts, optical and scientific equipment, chemicals and chemical products and processed food.
Higher trade was recorded with Asean which grew by 5.4 per cent, China (up 2.4 per cent), the US (up 11.9 per cent) and the EU (up 3.8 per cent).
For the month of May, the ministry said, Malaysia registered a trade surplus of RM3.26 billion, despite overall exports decreasing by 0.9 per cent to RM59.92 billion and imports expanding 3.1 per cent to RM56.66 billion. This was the 223rd consecutive month of trade surplus recorded since November 1997.
On a sectoral basis, Miti said exports of manufactured goods increased by 2.7 per cent to RM50.16 billion for May driven by higher exports of electrical and electronics products, chemicals and chemical products, optical and scientific equipment, machinery, equipment and parts, processed food, transport equipment and manufactures of metal.
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.
