KUALA LUMPUR: Malaysia’s total trade during the period of January-September 2016 rose marginally higher by 0.6 per cent to RM1.077 trillion compared with the same period in 2015, supported by exports in manufactured and agricultural goods.
The International Trade and Industry Ministry (MITI) in a statement said Malaysia also recorded a trade surplus of RM59.77 billion compared with RM60.93 billion for the same period of 2015. “During the period, exports grew by 0.5 per cent or RM2.58 billion to RM568.36 billion while imports rose by 0.7 per cent or RM3.75 billion to RM508.59 billion.
“In September 2016, the 227th consecutive month of trade surplus was recorded since November 1997 valued at RM7.56 billion,” it said. For the first nine months of 2016, MITI said, exports of manufactured goods increased by 3.2 per cent to RM469.31 billion.
Higher exports were recorded for almost all manufacturing sub-sectors except for iron and steel products, petroleum products, jewellery as well as non-metallic mineral products. Manufacturing exports accounted for 82.6 per cent of total exports as compared to 80.4 per cent during the same period last year.
Exports of agricultural goods grew by 1.4 per cent to RM50.37 billion, mainly on higher exports of palm oil and palm-based agricultural products. Exports of palm oil increased to RM29.76 billion, attributed to higher average unit value (AUV).
“However, exports of mining goods decreased by 22.5 per cent to RM44.88 billion due to lower exports of liquified natural gas (LNG) and crude petroleum, as a result of lower AUV,” it said. Marketwise, MITI said, higher trade was recorded with the United States (US), ASEAN, South Korea, Taiwan, China, Germany, Turkey, Saudi Arabia, Mexico, Bangladesh and India.
Exports to the US recorded double-digit growth of 11.5 per cent to RM59.35 billion, accounting for 10.4 per cent of Malaysia’s total exports and 9.3 per cent of total trade.Exports to ASEAN remained strong with growth up by 5.1 per cent to RM168.29 billion, MITI said.
Imports for the first nine months of 2016 were valued at RM508.59 billion, an increase of 0.7 per cent over the same period last year. The three main categories of imports by end use were intermediate goods, capital goods and consumption goods.
