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Malaysia trade grows by 14.8 pct in January

Xinhua, March 3, 2017 Adjust font size:

Malaysia's trade increased by 14.8 percent in the first month of 2017, expanding in trade with its major trading partners and in exports in all major sectors, official figures showed Friday.

Total trade amounted to 135.77 billion ringgit (30.4 billion U.S. dollars), according to the statistics announced by the international trade and industry ministry.

Exports posted a double digit growth of 13.6 percent to 70.24 billion ringgit (15.8 billion U.S. dollars), the highest monthly export value ever recorded for the first month on year. Imports expanded by 16.1 percent to 65.53 billion ringgit (14.7 billion U.S. dollars), with a trade surplus of 4.71 billion ringgit (1.06 billion U.S. dollars).

The strong growth in exports was supported by double digit growth in all major sectors. Exports of manufactured goods increased by 12.2 percent while mining and agricultural goods grew by 18.8 percent and 16.1 percent, respectively.

Increased trade was recorded in Malaysia's major trading partner, including China, ASEAN, Japan and the United States. Trade with China rose by 28.2 percent. Exports to China surged by 31.6 percent with support from higher exports for E&E products, palm oil and palm oil based agriculture products, chemicals and chemical products, petroleum products as well as rubber products. Enditem