Malaysia’s total trade rose marginally to MYR118.31 billion (US$28.95 billion) in January 2016 from MYR118.25 billion recorded in the same month in 2015, supported by exports of manufactured goods.
The International Trade and Industry Ministry (MITI) in a statement said the higher trade numbers serve to underline Malaysia’s resilience despite the challenging global economic environment.
Exports of manufactured goods for January 2016 grew by MYR1.95 billion to MYR50.59 billion, accounting for 81.8% of Malaysia’s total exports.
The increase was supported mainly by higher exports of machinery, equipment and parts (up by MYR588.7 million), electrical and electronic products (up MYR566 million), manufactures of metal (up RM496 million) as well as optical and scientific equipment (up MYR407.1 million).
Higher trade was recorded with the Association of Southeast Asian Nations (ASEAN) which grew by MYR1.6 billion, China (up MYR827.2 million), U.S. (up MYR727 million), India (up MYR600 million), Germany (up MYR353.1 million), Switzerland (up MYR350.8 million), and Turkey (up MYR317.9 million).
A positive trade balance of MYR5.39 billion was recorded in January 2016 despite overall exports decreasing by 2.8% to MYR61.85 billion, while imports expanded by 3.3% to MYR56.46 billion.
This is the 219th consecutive month of trade surplus recorded since November 1997, said MITI.
On a sectoral basis, exports of mining goods declined by 40.9% due mainly to lower exports of liquefied natural gas and crude petroleum.
This was partly cushioned by higher exports of both manufactured and agricultural goods which increased by 4% and 5.7%, respectively.
Agricultural goods accounted for 8.5% of Malaysia’s total exports in January 2016 while mining goods contributed 9.1%.
