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3rd September, 2010
KUALA LUMPUR: Malaysia registered a trade surplus of RM7.01 billion in July 2010, making it the 153rd consecutive month of trade surplus since November 1997.
Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed, said total exports in July 2010 rose by 13.5 per cent to RM55.43 billion compared with July last year.
This was the second highest monthly export value recorded in the first seven months of this year, he said in a preliminary release from the ministry yesterday.
Mustapa said imports expanded by 18.1 per cent to RM48.41 billion, resulting in a 15.6 per cent increase in total trade to RM103.84 billion from a year ago.
On a month-on-month basis, Mustapa said, exports in July 2010 rose by 4.9 per cent while imports grew by 3.5 per cent and total trade increased by 4.2 per cent compared with June this year.
The increase in exports in July of RM6.6 billion from a year ago was largely contributed by higher exports of electrical and electronic (E&E) products, liquefied natural gas, refined petroleum products, optical and scientific equipment, palm oil, chemicals and chemical products, crude rubber and crude petroleum.
He said exports to Association of South-East Asian Nations (Asean) were RM13.31 billion, an increase of 3.6 per cent from a year ago and accounted for 24 per cent of Malaysia’s total exports in July this year.
Month-on-month, exports to Asean grew by 2.6 per cent.
Exports to China expanded by 12.6 per cent to RM6.69 billion from July last year due to higher exports of E&E products, crude petroleum, chemicals and chemical products as well as crude rubber.
Compared with June this year, exports to China in July increased by 0.2 per cent.
Exports to the European Union (EU) rose by 18.7 per cent to RM6.07 billion from July last year, led mainly by higher exports of E&E products to France and Netherlands.
Month-on-month, exports to EU rose by 3.8 per cent.
Exports to the US in July this year were RM5.61 billion amid higher exports of optical and scientific equipment, palm oil and rubber products.
This was an increase of 1.7 per cent from July last year and 4.8 per cent higher from June 2010.
Exports to Japan surged by 27.6 per cent to RM5.28 billion from July 2009, attributed mainly to higher exports of liquefied natural gas, E&E and wood products.
Compared with June 2010, exports to Japan increased by three per cent.
Exports to Hong Kong increased by one per cent to RM2.87 billion compared with July 2009, mainly contributed by higher exports of optical and scientific equipment and manufacture of metal and plastics.
Month-on-month, exports to Hong Kong grew by 1.8 per cent.
For January-July this year, total trade increased by 26.6 per cent to RM673.15 billion.
Exports expanded by 24 per cent to RM371.26 billion while imports rose by 30 per cent to RM301.89 billion, resulting in a trade surplus of RM69.37 billion.
Total exports to Asean increased by 23.3 per cent to RM94.97 billion, or 25.6 per cent, of Malaysia’s total exports during the first seven months of this year.
Total exports to China surged by 40 per cent to RM47.01 billion, or 12.7 per cent, of the country’s total exports during the period.
The major contributor to the increase was E&E products, which accounted for 50.5 per cent of total exports to China.
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