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Malaysia's Total October Trade Rises 11.6 Per Cent

[ 10-12-2013 ]

KUALA LUMPUR, Dec 6 (Bernama) -- Malaysia's total trade in October 2013 rose 11.6 per cent to RM125.98 billion compared with the same month a year ago, the Ministry of International Trade and Industry (MITI) said Friday.

Higher trade in October 2013 was recorded with China, which increased by RM2.78 billion, Asean (RM1.47 billion), Australia (RM1.2 billion), the European Union (EU)(RM1.18 billion), Hong Kong (RM637.4 million), Korea (RM636.9 million) and India (RM516.8 million).

Exports to Asean rose 5.3 per cent to RM18.11 billion, accounting for 27 per cent of Malaysia's total exports in October 2013, the ministry said in a statement on the October 2013 Malaysia External Trade Statistics here.

It added exports to the United States were lower by 6.3 per cent to RM5.2 billion compared with a year ago, attributed mainly to a decline in exports of optical and scientific equipment.

Exports in October rose 9.6 per cent compared with a year ago to RM67.11 billion, marking a fifth consecutive month of increase since June 2013, the ministry said.

It said major exports for products for the month were electrical and electronic products, refined petroleum products, liquefied natural gas, palm oil, and chemicals and chemical products.

Imports in October 2013 increased by 13.9 per cent to RM58.88 billion from October 2012, contributed mainly by increases in imports of intermediate goods by 13 per cent or RM3.9 billion.

Between January and October, Malaysia's total trade was RM1.132 trillion, an increase of 3.4 per cent from RM1.095 trillion recorded during the same period in 2012.

Exports increased by 0.9 per cent to RM591.83 billion while imports expanded by 6.3 per cent to RM540.38 billion, resulting in a trade surplus of RM51.45 billion.

The top five trading partners which registered expansion in trade were China (increased by 9.9 per cent), Singapore (1.5 per cent) and the EU (5.2 per cent), while trade with Japan and the US declined by 8.1 per cent and 1.8 per cent respectively.

Other trading partners which registered increases in trade with Malaysia were Korea (11.9 per cent), Taiwan (9.3 per cent), the United Arab Emirates (UAE) (13.2 per cent) and India (6.4 per cent).

Total trade with Asean increased by 4.1 per cent to RM311.32 billion or 27.5 per cent of Malaysia's trade during the period of January-October 2013, said the ministry.

It added that exports of manufactured goods during the first 10 months of 2013 were RM398.75 billion, an increase of 1.4 per cent or RM5.36 billion and accounting for 67.4 per cent of total exports during the period.

Exports of mining goods rose by nine per cent or RM10.88 billion to RM131.97 billion, contributed by higher exports of refined petroleum products which increased by 23.7 per cent, said MITI.

However, exports of agricultural goods contracted by 15.8 per cent or RM10.67 billion to RM56.72 billion.

MITI said exports of palm oil and crude rubber decreased by 19.4 per cent and 12.1 per cent respectively, due mainly to lower prices.

Total imports during January-October 2013 increased by 6.3 per cent to RM540.38 billion.

The ministry said the three main categories of imports by end-use were intermediate goods, capital goods and consumption goods.

Intermediate goods, valued at RM318.95 billion or 59 per cent share of total imports, increased by 3.4 per cent from the corresponding period of 2012.

Capital goods, valued at RM81.21 billion or 15 per cent of total imports, went up 3.5 per cent and consumption goods, which constituted RM39.07 billion or 7.2 per cent of total imports, rose 8.2 per cent.

-- BERNAMA