Trade surplus in April up 31.9 per cent to RM9.06 billion
KUALA LUMPUR: Malaysia’s trade surplus increased by 31.9 per cent to RM9.06 billion in April this year from RM6.87 billion in the previous year, making it the 222nd consecutive month of trade surplus since November 1997.
The International Trade and Industry Ministry ( Miti) said Malaysia’s exports grew by 1.6 per cent in April this year to RM61.35 billion supported by expansion in exports to ASEAN, the US and Taiwan.
“Imports decreased by 2.3 per cent to RM52.29 billion while the total trade was flat at RM113.64 billion compared to RM113.9 billion in April 2015,” it said in a statement.
In the first four months of 2016, exports expanded to RM246.51 billion, an increase of 1.2 per cent,
Imports decreased by 2.3 per cent to RM52.29 billion while the total trade was flat at RM113.64 billion compared to RM113.9 billion in April 2015. Miti
while imports decreased by 0.9 per cent to RM213.51 billion, with the total trade valued at RM460.02 billion compared with RM459.04 billion in the same period last year.
“The trade surplus registered a double-digit growth of 17 per cent to RM32.99 billion during the period,” Miti said.
Overall in April this year, exports of both manufactured and agricultural goods registered an increase, but exports of mining goods decreased.
MITI said exports of manufactured goods grew by RM2.31 billion to RM51.54 billion compared to RM49.23 billion in April 2015, driven mainly by increased exports of petroleum products, machinery, equipment and parts, electrical and electronics ( E& E) products, optical and scientific equipment, processed food, manufactures of metal as well as chemicals and chemical products.
Exports of agricultural goods increased by 7.3 per cent to RM5.21 billion, attributed mainly to higher exports of palm oil with an increase of 5.2 per cent or RM145.5 million due to higher Average Unit Value (AUV).
Meanwhile, Miti said the decrease in mining goods exports by 28.1 per cent to RM4.28 billion was contributed by lower exports of liquefied natural gas (LNG) and crude petroleum due to the contraction in the AUV.
For the first four months of 2016, exports of manufactured goods increased by 6.0 per cent to RM203.47 billion with higher exports recorded for all manufacturing sub-sectors except for petroleum products, iron and steel products as well as non-metallic mineral products.
“Exports of agricultural goods for the same period recorded a value of RM20.47 billion, an increase of 6.7 per cent, but exports of mining goods decreased by 31.6 per cent to RM21.16 billion,” said Miti.
Increases in trade were recorded in April 2016: with ASEAN growing 1.4 per cent to RM31.22 billion, and the US (+8.3 per cent) to RM11.12 billion.
Trade with China accounted for 15.4 per cent of Malaysia’s total trade in April 2016 or RM17.55 billion, while trade with the European Union registered a decrease by RM387.4 million to RM11.2 billion and trade with Japan was valued at RM9 billion, a decline of 11.3 per cent, it said.
Miti said total trade with Free Trade Agreement (FTA) partners in April 2016 was valued at RM70.24 billion with exports amounting to RM36.98 billion and imports totalling RM33.26 billion.
Higher exports were recorded to Singapore, Vietnam, the Philippines, Cambodia, Laos, Myanmar, Turkey, India and Pakistan, it said. — Bernama