Highlight Malaysia March exports rise 8.4% to RM65b, imports up 0.5% at RM55b

by **Cals** Wed 07 May 2014, 22:55

Highlight Malaysia March exports rise 8.4% to RM65b, imports up 0.5% at RM55b

Business & Markets 2014

Written by Chong Jin Hun of theedgemalaysia.com

Wednesday, 07 May 2014 12:58

KUALA LUMPUR (May 7): Malaysian exports rose 8.4% to RM65.03 billion in March from a year earlier on higher sales of major products like electrical and electronic (E&E) goods and palm oil.

The Statistics Department said in a statement today exports climbed as major importers like the US and European Union (EU) countries bought more goods from Malaysia.

"Exports of manufactured goods was RM43.86 billion or 67.4% of total exports in March 2014, an increase of 8.5% or RM3.44 billion from March 2013.

"The increase in exports was contributed mainly by higher exports of electrical and electronic (E&E) products especially electronic integrated circuits, apparatus for transmission or reception of voice, images and data, as well as parts and accessories for telecommunication apparatus," the department said.

Mining goods exports rose 11% to RM14.89 billion while sales of agricultural items "increased marginally" to RM5.77 billion on higher palm oil sales, according to the department.

E&E products, which accounted for 32.2% of total exports, rose 6.2%.

Palm oil sales climbed 4% to RM3.78 billion.

In geographical terms, exports to the EU, and US increased 14.1% and 5.2% respectively. Sales to China fell 1.8%.

Exports to the Association of Southeast Asian Nations region expanded 10.9%.

Meanwhile, Malaysian imports rose 0.5% to RM55.43 billion mainly on higher consumption goods purchases as the country bought less intermediate and capital items.

The March export and import figures translate into total trade of RM120.46 billion, up 4.6% from a year earlier.

Malaysia's cumulative first-quarter exports rose 10.9% to RM187.91 billion while imports climbed 5.5% to RM161.53 billion.

These figures translate into total trade of RM349.44 billion, an increase of 8.3 % from a year earlier.