KUALA LUMPUR, (AFP) - Malaysia's exports in 2003 breached the 100billion-dollar mark for the first time, driving the trade surplus up 45.7percent year-on-year to a record high of 75.04 billion ringgit (19.75billion dollars).

The trade ministry said exports had surged since March last year to groweight percent to an all-time high of 382.30 billion ringgit, up from354.08 billion in 2002, in a statement. Total imports rose 1.6 percent to307.27 million

"Buoyed by the strong export performance, the trade surplus in 2003expanded by 45.7 percent to reach 75.04 billion ringgit, the highest everrecorded," it said.

The ministry said Malaysia's exports in December rose nearly 17 percentfrom a month earlier to 38.78 billion ringgit, while imports were up 21percent to 32.65 billion.

Although the ministry did not make the point, analysts say part of thepowerful export performance can be attributed to the ringgit's peg to theweak US dollar.

Both the export and import values were the highest monthly levels everachieved, with the sharp increase in imports due to higher imports ofintermediate and capital goods to support increasing production activitiesin the country, it said.

December's trade surplus dipped by three percent from November to 6.13billion ringgit, but it represented the 74th consecutive month of tradesurplus since November 1997, showing the resilience of Malaysia's exports,it added.

Exports of electrical and electronic products, which accounted for 51percent of total exports in 2003, dipped 1.6 percent to 194.78 billion.But this was offset by a 35.7 percent surge in palm oil exports to 23.32billion or six percent of total exports.

Manufactured exports rose 3.4 percent to reach 300.01 billion, accountingfor 78.5 percent of total exports.

Electrical and electronic products led imports last year, accounting fornearly 49 percent of total imports and rising 0.2 percent to 149.72billion.

The Association of Southeast Asian Nations, the United States, theEuropean Union, Japan, China and Hong Kong jointly accounted for nearly 80percent of total exports in 2003.

Exports to ASEAN shot up seven percent to 98.54 billion ringgit, and theministry said almost 23 percent of the increase in Malaysia's globalexports last year was due to stronger exports to the region.

Exports to the US showed an upward trend since March to reach 68.81billion ringgit, with exports in December surging 22 percent to 7.62billion, the highest monthly figure ever recorded, due to stronger demandfor electrical and electronic products, it said.

Exports to Japan in 2003 increased 5.3 percent to 41.81 billion, reversinga decline in the past two years.

Exports to the EU rose 9.4 percent to 48 billion, China by 22.6 percent to24.47 billion, Hong Kong by 15.5 percent to 23.28 percent, India by 42.6percent to 9.54 billion and Middle East nations by 24.4 percent to 9.38billion.