Malaysia's July exports increase by 7.1% to RM59.24b
KUALA LUMPUR, Sept 8 (Bernama) -- Malaysia's exports in July increased by 7.1% to RM59.24 billion, compared to the RM55.32 billion recorded in the same month last year, said International Trade and Industry Minister, Datuk Seri Mustapa Mohamed.
Imports for the month increased by 2.9% to RM49.79 billion from RM48.386 billion previously.
"Total trade of RM109.04 billion was recorded. This 5.1% higher from a year ago with a trade surplus of RM9.45 billion, making it the 165th consecutive month of trade surplus since November 1997," he said in a statement today.
On a month-on-month basis, exports in July increased 2.4%, imports contracted 0.4% and total trade expanded 1.1%.
Cumulative trade between January and July increased 7.7% to RM724.09 billion, attributed to a 6.9% growth in exports of RM396.35 billion and a 8.7% expansion in imports of RM327.75 billion, resulting in a trade surplus of RM68.6 billion.
Major export products which contributed to a higher offtake in July were electrical and electronics (RM20.62 billion), palm oil (RM6.02 billion), liquefied natural gas (RM4.27 billion), chemical and chemical products (RM4.15 billion), crude petroleum (RM2.65 billion), refined petroleum products (RM2.64 billion), machinery, appliances and parts (RM2.09 billion), manufacture of metals (RM1.74 billion), optical and scientific equipment (RM1.6 billion) and rubber products (RM1.55 billion).
Major export markets were China (RM8.08 billion), Singapore (RM7.25 billion), Japan (RM6.75 billion), United States (RM4.77 billion), Thailand (RM3.33 billion), India (RM2.71 billion), Hong Kong (RM2.63 billion), South Korea (RM2.19 billion), Taiwan (RM1.86 billion) and Netherlands (RM1.7 billion).
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