MARKET DEVELOPMENT
Malaysia's February Exports up 12.3% to RM58.91bil, Exceeds Forecast
Malaysia's February Exports up 12.3% to RM58.91bil, Exceeds Forecast
04/04/2014 (The Star) - Malaysia's exports in February rose 12.3% on-year to RM58.91bil, exceeding economists' forecast of a 10.6% increase mainly due to higher exports of electronics products to China.
The Ministry of International Trade and Industry (MITI) said on Friday imports increased by 9.5% to RM48.48bil, below forecast of 14.2% increase.
"Trade surplus increased by 27.2% to RM10.44bil in February," it said, adding Malaysia's total trade rose 11% on-year to RM107.39bil.
MITI said exports to China surged by 23.6% to RM7.36bil from a year ago.
"Higher exports of E&E products mainly electronic integrated circuits; petroleum products; manufactures of metal namely cathodes of refined copper and palm oil were the major contributors to the increase," it said.
It said electrical and electronic products accounted for RM18.6bil, or 31.6% of total exports, which was an increase of 18.1% from February 2013; while liquefied natural gas recorded an 18.8%increase to RM5.65bil.
The Ministry of International Trade and Industry (MITI) said on Friday imports increased by 9.5% to RM48.48bil, below forecast of 14.2% increase.
"Trade surplus increased by 27.2% to RM10.44bil in February," it said, adding Malaysia's total trade rose 11% on-year to RM107.39bil.
MITI said exports to China surged by 23.6% to RM7.36bil from a year ago.
"Higher exports of E&E products mainly electronic integrated circuits; petroleum products; manufactures of metal namely cathodes of refined copper and palm oil were the major contributors to the increase," it said.
It said electrical and electronic products accounted for RM18.6bil, or 31.6% of total exports, which was an increase of 18.1% from February 2013; while liquefied natural gas recorded an 18.8%increase to RM5.65bil.