Wednesday, May 4, 2005
Malaysia's exports hit $12.28 bn in '05
AFP
KUALA LUMPUR: Malaysia's exports rose 16 per cent from a year earlier to growth hit an all-time monthly record of 46.67 billion ringgit (12.28 billion dollars) in March, the trade ministry said Wednesday. Imports for the month rose 8.7 per cent to 36.29 billion ringgit to give a record trade surplus of 10.38 billion ringgit, up 51.2 per cent on March 2004, the ministry said.
Total trade for the first quarter of 2005 was 219.71 billion ringgit, with a surplus of 25.15 billion ringgit. Exports in the first quarter were up 13.5 per cent while imports were 9.8 per cent higher. March was the 89th consecutive monthly trade surplus since November 1997.
"All major products registered double digit growth in exports, with the most significant growth recorded for electrical and electronic products, crude petroleum, refined petroleum, palm oil, appliances and parts and chemicals and chemical products," the ministry said.
Exports to fellow members of the Association of Southeast Asian Nations (ASEAN) were up 31.7 per cent from February, followed by the European Union, 20.7 per cent, the United States, 28.5 per cent, and Hong Kong up 43.6 per cent. These countries plus Japan and China were the major export markets in March, taking 78.6 percent of total shipments.
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