ID :
45296
Thu, 02/12/2009 - 15:39
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Shortlink :
https://oananews.org//node/45296
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MALAYSIA`S 2008 TRADE RECORDS 6.8 PERCENT GROWTH
KUALA LUMPUR, Feb 12 (Bernama) -- Malaysia's trade performance for 2008
recorded a 6.8 percent annual growth with exports expanding 9.6 percent.
Deputy International Trade and Industry Minister Liew Vui Keong said
Malaysia's total trade in 2008 was RM1.185 trillion (US$1=RM3.61), surpassing
the RM1 trillion mark for the third consecutive year.
Exports for 2008 were valued at RM663.51 billion while imports amounted
to RM521.5 billion, Liew said at a briefing on the 2008 trade performance by the
Ministry of International Trade and Industry.
"The January-September 2008 period strong export performance was backed by
not only boosted export earnings from higher prices of commodities but also
strong demand for manufactured exports," he said.
However, the December 2008 exports, valued at RM46.09 billion, was the
weakest recorded for the year, registering a 14.9 percent decline year-on-year.
This was attributed to the contagion effect of the financial crisis from the
United States, Europe and Asia.
Export performance in December 2008 was also affected by the festive
holidays, according to Liew.
In terms of contribution to total exports, the manufacturing sector
continued to be the leading export sector, accounting on average for about 70
percent of total monthly exports throughout 2008, he said.
In 2008, electrical and electronic products remained Malaysia's largest
contributor to total exports, accounting for 38.3 percent share.
Malaysia's exports of these products, however, decreased by 3.4 percent to
RM253.81 billion last year from RM262.69 in 2007, Liew said.
"This was mainly due to the lower exports of office machines, automatic data
processing machines and parts, as well as electrical machinery, apparatus, and
appliances and parts, especially to the US and the European Union (EU)," he
said.
Major products that sustained Malaysia's export growth in 2008 were
agriculture and mining exports, namely palm oil, crude and refined petroleum and
liquified natural gas (LNG).
Higher demand for palm oil from markets like China, the Netherlands, the
United States, India and Pakistan, coupled with higher prices, bolstered
Malaysia's exports for 2008, Liew said.
"From a market perspective, while the traditional markets of US, Japan and
EU continued to absorb more than a third of Malaysia's total export in 2008, the
emerging markets such as China, India, Pakistan, the United Arab Emirates,
Mexico, Bangladesh, Egypt, Saudi Arabia, Brazil, Russia and Ukraine have shown
significant expansion both in terms of growth and market share," he said.
-- BERNAMA
recorded a 6.8 percent annual growth with exports expanding 9.6 percent.
Deputy International Trade and Industry Minister Liew Vui Keong said
Malaysia's total trade in 2008 was RM1.185 trillion (US$1=RM3.61), surpassing
the RM1 trillion mark for the third consecutive year.
Exports for 2008 were valued at RM663.51 billion while imports amounted
to RM521.5 billion, Liew said at a briefing on the 2008 trade performance by the
Ministry of International Trade and Industry.
"The January-September 2008 period strong export performance was backed by
not only boosted export earnings from higher prices of commodities but also
strong demand for manufactured exports," he said.
However, the December 2008 exports, valued at RM46.09 billion, was the
weakest recorded for the year, registering a 14.9 percent decline year-on-year.
This was attributed to the contagion effect of the financial crisis from the
United States, Europe and Asia.
Export performance in December 2008 was also affected by the festive
holidays, according to Liew.
In terms of contribution to total exports, the manufacturing sector
continued to be the leading export sector, accounting on average for about 70
percent of total monthly exports throughout 2008, he said.
In 2008, electrical and electronic products remained Malaysia's largest
contributor to total exports, accounting for 38.3 percent share.
Malaysia's exports of these products, however, decreased by 3.4 percent to
RM253.81 billion last year from RM262.69 in 2007, Liew said.
"This was mainly due to the lower exports of office machines, automatic data
processing machines and parts, as well as electrical machinery, apparatus, and
appliances and parts, especially to the US and the European Union (EU)," he
said.
Major products that sustained Malaysia's export growth in 2008 were
agriculture and mining exports, namely palm oil, crude and refined petroleum and
liquified natural gas (LNG).
Higher demand for palm oil from markets like China, the Netherlands, the
United States, India and Pakistan, coupled with higher prices, bolstered
Malaysia's exports for 2008, Liew said.
"From a market perspective, while the traditional markets of US, Japan and
EU continued to absorb more than a third of Malaysia's total export in 2008, the
emerging markets such as China, India, Pakistan, the United Arab Emirates,
Mexico, Bangladesh, Egypt, Saudi Arabia, Brazil, Russia and Ukraine have shown
significant expansion both in terms of growth and market share," he said.
-- BERNAMA
