KUALA LUMPUR: Malaysia’s exports dropped by 0.9 percent year-on-year in May, latest statistics showed on Friday.
In May, Malaysia’s exports decreased by 533.6 million ringgit (133.9 million U.S. dollars) to 59.95 billion ringgit (15 billion U.S. dollars). Imports rose 3.1 percent to 56.66 billion ringgit (14.2 billion U.S. dollars), resulting in a 1-percent growth in total trade.
A trade surplus of 3.26 billion ringgit (0.8 billion U.S. dollars) was recorded, according to the trade figured released by tne international trade and industry ministry.
During the month, exports of manufactured goods increased by 2.7 percent. Higher exports were also recorded for E&E products, chemicals and chemical products, optical and scientific equipment, machinery, equipment and parts, processed food, transport equipment and manufactures of metal.
Lower exports were recorded in agricultural goods and palm oil. Exports of refined petroleum products dropped 17.2 percent due to the decrease in both average unit value and export volume. Exports of LNG slumped by 13.5 percent due to the decline in average unit value despite the export volume rose 4.9 percent.
Among Malaysia’s major trading partners, trade with China accounted for 16.3 percent of Malaysia’s total trade, higher by 1.2 percent. Malaysia’s exports to the United States grew by 18.7 percent to 6.36 billion ringgit.
