Thursday, August 4, 2011

#Flash* Malaysia's June exports up 8.6% to RM57.35b

KUALA LUMPUR: Malaysia's exports staged a strong recovery in June, rising 8.6% to RM57.35 billion from a year ago and posting a 4.1% increase from May, underpinned by palm oil and petroleum products.

Minister of International Trade and Industry Datuk Seri Mustapa Mohamed said on Thursday, Aug 4 imports rose by 6.3% to RM49.75 billion and expanded by 6.8% from May.

He said total trade was RM107.11 billion, up 7.5% on-year. A trade surplus of RM7.60 billion was recorded, making it the 164th consecutive month of trade surplus since November 1997.

'The increase in exports in June 2011 of RM4.52 billion from a year ago was largely contributed by higher exports of palm oil, refined petroleum products, liquefied natural gas (LNG) and crude petroleum which collectively contributed 88.0% to the growth in exports for the month,' he said.

Mustapa said exports to China expanded by 9.5% to RM7.31 billion in June 2011. This was due to higher exports of crude petroleum, electrical and electronic (E&E) products, manufactures of metal and rubber products.

He said in the second quarter of 2011, total exports increased by 2.3% to RM170.24 billion from 1Q of 2011. Imports rose by 6.4% to RM143.15 billion and total trade grew by 4.1% to RM313.39 billion.

Total trade in January-June increased by 7.9% to RM614.35 billion from a year ago.

This was contributed by exports of RM336.60 billion and imports of RM277.74 billion. Exports increased 6.6% while imports expanded by 9.6% compared with January to June 2010, resulting in a trade surplus of RM58.86 billion.

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