Malaysian Trade Surplus Posts Year's Record High in Aug

Oct 4, 2007 - Malaysian exports rose 6.1% to 53.61 billion ringgit in August from the previous month, driven mainly by a 10.9% increase in exports of electrical and electronic products, the Statistics department said Thursday. However, on a yearly basis, exports edged up 0.3% in August.

Imports amounted to 44.61 billion ringgit in August, up 4.9% from July and 2.9% from a year ago.

The overall trade value showed increases of 5.6% from the prior month and 1.5% from a year earlier. Trade surplus widened 12.7% monthly to this year's high of 8.99 billion ringgit, marking consecutive monthly increase since November 1997.

In July, Malaysia's trade surplus stood at 8.0 billion ringgit, as total exports and imports were valued at 50.5 billion ringgit and 42.5 billion ringgit respectively.

In the first eight months, exports reached 387.24 billion ringgits, an increase of 2.0% from last year, while imports expanded 3.3% to 326.59 billion ringgit. The cumulative trade surplus amounted to RM60.65 billion during the period.

Electrical and electronic products group was the main driver of growth in exports in August. The value of electrical and electronic products grossed 24.24 billion ringgit during the month, accounting for 45.2% of the total exports.

Palm oil, chemicals and chemical products crude petroleum, liquefied natural gas refined petroleum products, machinery, appliances and parts occupied remaining space with significant contributions.

ASEAN, US, EU, China, Japan, Hong Kong and West Asia were the top export markets, which accounted for 80.4% of Malaysia's total exports in August.