KUALA LUMPUR: Malaysia's export value surpassed the RM100bil mark for the first time in the month of February, boosting the country's overall trade value to a record high for the month.
In a statement, the International Trade and Industry Ministry (Miti) said the value of shipments overseas expanded 16.8% year-on-year (y-o-y) to RM102.27bil, while overall trade was up 17.5% y-o-y to RM184.75bil.
The highest export growth rates were recorded for the major markets of Asean, China, the EU and Japan, which all registered double-digit increases in shipment value..
Meanwhile, imports were up 18.4% to RM82.48bil, leading to a February trade surplus of RM19.79bil, up 10.7% over the year.
"On a month-on-month (m-o-m) basis, trade, exports and imports slipped by 9.2%, 7.9% and 10.8%, respectively due to shorter working days and the festive season. Meanwhile, trade surplus increased by 6.6%," said the Ministry.
By segment, Malaysia's exports of manufactured goods in February expanded 14.2% y-o-y to RM87.16bil while agriculture goods climbed 38.7% to RM7.9bil and mining goods rose 30.7% to RM6.79bil.
The three main categories of imports also increased, led higher by a 21.8% jump in intermediate goods to RM46.72bil.
"Capital goods, valued at RM7.92bil or 9.6% of total imports, grew by 4.4%, due to strong imports of capital goods (except transport equipment), primarily parts for machinery and mechanical appliances.
"Consumption goods, valued at RM6.98bil or 8.5% of total imports, rose by 18.3%, as a result of higher imports of processed food and beverages mainly for household consumption especially food preparations," said Miti.
