Malaysia's Jan to Nov total trade up 8.7 percent to RM1.16t

KUALA LUMPUR, Jan 11 (Bernama) -- Malaysia's total trade grew by 8.7% to RM1.16 trillion between January and November 2011, said Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed.

Announcing the figures Wednesday, Mustapa said exports rose by 9% to RM633.81 billion while imports increased by 8.4% to RM521.81 billion, resulting in a trade surplus of RM112 billion during the period.

Mustapa said China has maintained its significance as Malaysia's largest trading partner during the period, accounting for RM151.34 billion, or 13.1%, of the country's total trade.

"It is also Malaysia's largest export destination and import source," he said in a statement.

He said manufactured items made up 80.2% of the goods traded between both countries on the growing industry linkages developed over the years.

Asean's share of Malaysia's total trade for this period remained in the region of 26%, with Singapore accounted for 48.8%, Thailand (24.5%) and Indonesia (16.8%), he said.

For November 2011, Mustapa said, Malaysia's exports were valued at RM56.86 billion, an increase of 8% compared with the same month in 2010.

"Imports were 8.4% higher to RM47.38 billion while total trade expanded by 8.2% from November 2010 to RM104.24 billion," he said.

Mustapa said the higher prices and an increase in demand boosted exports in November 2011, particularly for liquefied natural gas, refined and crude petroleum and palm oil.

"Manufactured exports such as machinery, appliances and parts, chemicals, manufacturers of metal as well as rubber products also increased," he said.

However, he said, on a month-on-month basis, exports, imports and total trade in November 2011 were lower by 10.2, 5.2 and 8.1% respectively.

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