Update Malaysian Aug exports rise 12.4% y-o-y, imports up 14.1%

Update Malaysian Aug exports rise 12.4% y-o-y, imports up 14.1%
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Friday, 04 October 2013 12:48

KUALA LUMPUR (Oct 4): Malaysian exports rose 12.4% to RM62.9 billion in August this year from a year earlier, according to the Statistics Department.

In a statement today, the department said imports grew 14.1% to RM55.79 billion. The latest figures translate into total trade of RM118.69 billion which is a 13.2% rise.

"The August 2013 data is provisional and subject to revision in later issue," the Statistics Department said.

Malaysian exports to China, besides European Union, and Association of Southeast Asian Nations countries rose while sales to Japan and the US fell.

Export growth is seen in Malaysia’s refined petroleum, and electrical and electronic products. The country which also sold more metal and chemical-based items, had however registered a decline in sales of agricultural goods.

The agricultural goods include oil palm-based products. Meanwhile, imports had risen on higher purchases of intermediate, capital and consumption goods.

In monthly terms, the nation's exports climbed 3.6% from July this year.

Cumulative year-to-date exports, however fell 0.8% to RM461.44 billion while imports rose 5.8% to RM426.89 billion.

This results in a trade surplus of RM34.55 billion. Total trade increased 2.2% to RM88.33 billion.