Malaysia’s exports in July rise 0.6%

  • Business
  • Saturday, 06 Sep 2014

PETALING JAYA: Malaysia’s exports in July rose 0.6% to RM61.12bil from RM60.72bil in the previous corresponding period, according to data released by the Department of Statistics.

Imports, meanwhile, slipped 0.7% to RM57.48bil from RM57.86bil a year ago, it said in a statement yesterday. The trade surplus was RM3.64bil.

Malaysia’s total trade in July 2014 was valued at RM118.6bil compared with RM118.59bil a year ago.

Exports of manufactured goods increased by 2.1% to RM47.82bil, mainly due to higher shipments of petroleum products, optical and scientific equipment, iron and steel products (line pipes for oil and gas), as well as chemicals and chemical products.

These exports offset the impact of lower exports of liquefied natural gas (LNG) in July.

Exports of agricultural goods increased by 3.5% to RM5.75bil, contributed by higher exports of palm oil due to higher prices.

Major exports in July were electrical and electronic products at RM20.61bil or 33.7% of total exports, down 1% from July 2013.

Petroleum products accounted for RM6.64bil, or up 29.3%); palm oil which includes crude palm oil, fractionated palm oil, palm kernel oil, olein and stearin (RM4.05bil, or up 10.9%) and liquefied natural gas (RM4.05bil, or down 22.9%).

The three main categories of imports by end use were intermediate goods, valued at RM34.62bil or 60.2% of total imports, an increase of 2.6% from the previous corresponding period; capital goods (RM7.35bil or 12.8% of total imports, down 17.9%); and consumption goods (RM4.19bil or 7.3% of total imports, down 9%).

Major import products were E&E products (RM15.9bil) which constituted 27.7% of total imports, down 0.9% from the previous corresponding period; petroleum products (RM7.53bil, 13.1% of total imports, up 16.1%); and chemicals and chemical products (RM5.31bil, 9.2% of total imports, up 1.5%).

Malaysia’s total trade for January to July 2014 period was valued at RM834.05bil, which was an increase of 8.4% compared with the same period last year.

Exports were higher by 10.7% to RM441.25bil while imports rose by 5.8% to RM392.8bil. The trade surplus was valued at RM48.45bil, an expansion of 76.6%.

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