MALAYSIA'S EXPORTS REACHED NEW HIGH AT US$21.3 BIL IN MARCH

KUALA LUMPUR, May 6 (Bernama) -- Malaysia's exports in March reached a new high at RM64.06 billion (US$21.342), an increase of 7.8 per cent from the same month in 2010, says International Trade and Industry Minister Mustapa Mohamed.

Imports rose by 12.1 per cent to RM50.53 billion, resulting in a total trade of RM114.59 billion, up 9.6 per cent from the corresponding month in 2010, he said in a statement Friday. (US$1=RM3.00)

A trade surplus of RM13.52 billion was registered, making it the 161st consecutive month of trade surplus since November 1997.

On a month-on-month basis, exports in March 2011 increased by 23.7 per cent. Imports rose by 28.9 per cent and total trade expanded by 25.9 per cent.

During the first quarter this year, Mustapa said total exports registered an increase of 3.5 per cent to RM170.67 billion compared to the fourth quarter of 2010.

Imports contracted 3.4 per cent to RM134.59 billion and total trade
increased by 0.4 per cent to RM305.26 billion.

Compared with the first quarter of 2010, exports and imports in the first quarter this year were higher by 7.5 per cent and 12.4 per cent respectively, while total trade increased by 9.6 per cent.

Mustapa said the increase in exports in March this year of RM4.64 billion from a year ago was largely contributed by higher exports of electrical and electronic products, refined petroleum products, palm oil, crude rubber as well as chemicals and chemical products.

The minister said China, Singapore, Japan, the United States and Hong Kong were the top five export destinations, accounting for 50.9 per cent of Malaysia's total exports in March 2011.

Exports to Asean was valued at RM15.48 billion, accounting for 24.2 per cent of Malaysia's total exports in March 2011.


Total exports to this region fell by 2.6 per cent compared to RM15.89 billion a year ago due to lower exports of transport equipment and electrical and electronic products, Mustapa said.

In March this year, exports to China breached the record value of RM7.98 billion registered in March 2010, with an increase of 19.4 per cent to reach a new high of RM9.53 billion.

The increase was contributed mainly by higher exports of electrical and electronic products, especially integrated circuits and crude rubber, said the minister.

However, exports to the US declined 9.4 per cent in March to RM5.22 billion from RM5.77 billion in March 2010 due to lower exports of electrical and electronics products, machinery appliances and parts as well as crude petroleum.

Exports of palm oil to US, however, registered an increase of 32 per cent from March 2010.

Mustapa said total exports increased by 7.5 per cent to RM170.67 billion during the January-March 2011 period compared with the corresponding period in 2010.

During the first quarter of this year, total exports to Asean increased marginally by 0.1 per cent to RM41.65 billion or 24.4 per cent of Malaysia's total exports, he added.
-- BERNAMA