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Malaysia's exports up 1.6 percent in April

Xinhua, June 3, 2016 Adjust font size:

Malaysia's exports rose by 1.6 percent to 61.35 billion ringgit (14.8 billion U.S. dollars) in April year-on-year, supported by expansion in exports to ASEAN and the United States, according to the latest statistics released on Friday.

Increase of exports was recorded in both manufactured and agricultural goods, while exports of mining goods decreased, including a 45.1 percent slump on the exports of liquefied natural gas (LNG) to Japan, a major buyer.

Among Malaysia's major trading partner, increase of exports was recorded with ASEAN and the United States. Exports to China, Malaysia's largest trading partner which accounted for 15.4 percent of its total trade in April, dropped to 6.75 billion ringgit (1.6 billion U.S. dollars), a decrease of 16.6 percent due to lower exports of commodities, mainly palm oil and palm-based agriculture products, petroleum products, LNG and metalliferous ores.

However, higher exports were registered for optical and scientific equipment, machinery, equipment and parts as well as natural rubber. Imports from China increased by 9.8 percent to 10.81 billion ringgit (2.6 billion U.S. dollars).

Malaysia's total imports in April dropped by 2.3 percent to 52.29 billion ringgit (12.6 billion U.S. dollars) while total trade amounted to 113.64 billion ringgit (27.4 billion U.S. dollars) compared with 113.9 billion ringgit (27.5 billion U.S. dollars) in April 2015, according to the ministry of international trade and industry.

The trade surplus in April 2016 increased by 31.9 percent to 9.06 billion ringgit (2.2 billion U.S. dollars), marking the 222nd consecutive month of trade surplus since November 1997.

In the first four months of 2016, Malaysia's exports expanded to 246.51 billion ringgit (59.5 billion U.S. dollars), an increase of 1.2 percent while imports decreased by 0.9 percent to 213.51 billion ringgit (51.5 billion U.S. dollars). Total trade was valued at 460.02 billion ringgit (111 billion U.S. dollars) while trade surplus registered a double digit growth of 17 percent. Enditem