Malaysia’s exports up 12.2% in January

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exportMalaysia’s exports rose 12.2 per cent to 63.97 billion ringgit ($19.68 billion) in January 2014 while imports rose 7.2 per cent to 57.62 billion ringgit ($17.73 billion), according to the Statistics Department.

It said on March 6 that total trade in January rose 9.8 per cent. The trade surplus increased to 6.36 billion ringgit ($1.96 billion).

Analysts projected an annual growth rate of 7.9 per cent for exports and a 2.6 per cent decline for imports.

“The increase in trade was contributed mainly by higher trade with China and the European Union,” the department’s statement said, adding that manufactured exports rose by 13.5 per cent, accounting for 65.7 per cent of total exports in January 2014, from higher exports of electrical and electronic products.

Mining good exports rose 14.1 per cent, or 24.6 per cent of total exports while agricultural goods increased by 1.7 per cent, or 9 per cent of the total exports contributed by palm oil.

Major export products in January were electrical and electronic products with a share of 32.1 per cent of total exports, an increase of 14.6 per cent from January 2013. Malaysia also recorded increases in liquefied natural gas, refined petroleum products, palm oil and chemicals and chemical products.

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Reading Time: 1 minute

Malaysia’s exports rose 12.2 per cent to 63.97 billion ringgit ($19.68 billion) in January 2014 while imports rose 7.2 per cent to 57.62 billion ringgit ($17.73 billion), according to the Statistics Department.

Reading Time: 1 minute

exportMalaysia’s exports rose 12.2 per cent to 63.97 billion ringgit ($19.68 billion) in January 2014 while imports rose 7.2 per cent to 57.62 billion ringgit ($17.73 billion), according to the Statistics Department.

It said on March 6 that total trade in January rose 9.8 per cent. The trade surplus increased to 6.36 billion ringgit ($1.96 billion).

Analysts projected an annual growth rate of 7.9 per cent for exports and a 2.6 per cent decline for imports.

“The increase in trade was contributed mainly by higher trade with China and the European Union,” the department’s statement said, adding that manufactured exports rose by 13.5 per cent, accounting for 65.7 per cent of total exports in January 2014, from higher exports of electrical and electronic products.

Mining good exports rose 14.1 per cent, or 24.6 per cent of total exports while agricultural goods increased by 1.7 per cent, or 9 per cent of the total exports contributed by palm oil.

Major export products in January were electrical and electronic products with a share of 32.1 per cent of total exports, an increase of 14.6 per cent from January 2013. Malaysia also recorded increases in liquefied natural gas, refined petroleum products, palm oil and chemicals and chemical products.

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