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News & Events

[ 10-12-2013 ]
Malaysia’s October exports up 9.6% to RM67.11b, exceeds forecast (Update)

KUALA LUMPUR: Malaysia’s exports rose 9.6% to RM67.11bil in October from a year ago, exceeding forecasts of a 6.1% increase, the Ministry of International and Industry data showed on Friday.

It said the exports in October were the fifth consecutive increase since June while when compared with September, exports rose 6.1%.

The major exports were electrical and electronic products valued at RM22.36bil, accounting of 33.3% of total exports, rising by 12.7%.

Imports in October increased by 13.9% to RM58.88bil from a year ago, again exceeding forecasts of a 7.1% increase. The imports were contributed mainly due to intermediate goods, which increased by 13% or RM3.9bil.

MITI, elaborating on the exports data, said shipments of manufactured goods totaled at RM44.23bil or 65.9% of total exports in October 2013, up 10.6% or RM4.25bil compared with October 2012.

“Exports growth was driven by higher exports of E&E products. Exports of mining goods rose 19.6% to RM16.03bil or 23.9% of total exports while exports of agricultural goods declined by 10.8% to RM6.44bil or 9.6% of total exports,” it said.

MITI said electrical and electronic products valued at RM22.36bil, with a share of 33.3% of total exports, increased 12.7%; refined petroleum products accounted for RM7.65bil; liquefied natural gas RM5.01bil.

Palm oil which includes crude palm oil; fractionated palm oil; palm kernel oil, olein and stearin totaled RM4.36bil while chemicals and chemical products RM4.22bil.

Exports to China jumped grew 23.8% to RM8.88bil from a year ago. Higher exports of cathodes of refined copper; palm oil; E&E products mainly photosensitive semiconductor devices; chemicals and chemical products particularly hydrocarbons and their derivatives, were the major contributors to the increase.