Malaysia's Trade in February 2010

Malaysia sees trade surplus of RM11.67 billion in February
2010/04/02
KUALA LUMPUR: Malaysia recorded RM11.67 billion in trade surplus in February this year, making it the 148th consecutive month of trade surplus since November 1997, Minister of International Trade and Industry Datuk Seri Mustapa Mohamed said.
Total trade value for the month was RM82.01 billion, an increase by 22.3 per cent compared with February last year, he said in the preliminary trade statistics released by his ministry today.

Exports in February amounted to RM46.84 billion, a decline by 10.7 per cent compared with January 2010, reflecting the shorter working period in the month and the festive season.

Consequently, total trade was 10.8 per cent lower compared with January 2010.

However, the exports were higher by 18.4 per cent when compared with February last year while imports surged 27.9 per cent to RM35.17 billion compared with February 2009.

The increase in export was largely contributed by higher exports of E&E products which increased by 23.5 per cent or RM3.45 billion, crude petroluem (125.7 per cent or RM1.89 billion), palm oil (31.3 per cent or RM815.5 million) chemical and chemicals products (33.4 per cent or RM777.1 million) as well as optical and scientific equipment (42.4 per cent or RM347.9 million).
Singapore, China, Japan, the United States and Thailand were the top five export destinations, accounting for 51.2 per cent of Malaysia's total exports during the month of February.

Exports to Asean amounted to RM12.46 billion, an increase of 26.1 per cent compared with February 2009.

Total imports in the month were higher by 27.9 per cent to RM35.17 billion from February 2009, due mainly to higher imports of intermediate goods.

The three main import categories were intermediate goods valued at RM23.52 billion or 66.9 per cent of total imports, capital goods (RM5.05 billion or 14.4 per cent) and consumption goods (RM2.41 billion or 6.9 per cent).

The top 10 import sources were Japan, China, Singapore, the United States, Thailand, South Korea, Indonesia, Taiwan, Germany and Hong Kong.

Total imports from Asean totalled RM9.26 billion or 26.3 per cent of Malaysia's total imports.

Total export for the first two months of 2010 inceased by 34.8 per cent to RM25.70 billion compared with the same period of last year, while imports jumped by 29.5 per cent to RM74.68 billion. -- BERNAMA

Malaysia exports up 18.4pc in February
Afp, Kuala Lumpur

Malaysia said Friday its exports, the mainstay of the economy, rose 18.4 percent year-on-year in February due to stronger demand for electronic goods and commodities.
The trade ministry said in a statement shipments rose to 46.84 billion ringgit (14.4 billion dollars) while imports were up 27.9 percent to 35.17 billion ringgit, producing a surplus of 11.67 billion ringgit.

The ministry said the increase was due to higher exports of electrical and electronic products (up 23.5 percent), crude petroleum (125.7 percent) and palm oil (31.3 percent), among others.

Electrical and electronic items account for more than one-third of Malaysia's total exports to key markets such as China, Singapore, Japan, Thailand and the United States.
Export-dependent Malaysia, Southeast Asia's third-largest economy, was hit by the global slowdown as its economy shrank 1.7 percent last year but the central bank has forecast a 5.5 percent expansion for this year.


Slower export growth in February due to shorter working period
By Rupa Damodaran
Published: 2010/04/03

MALAYSIA'S exports in February grew by 18.4 per cent year-on-year to RM46.84 billion, coming in below market expectations.

The shorter working period in February due to the Chinese New Year festivity was partially to blame for the slower pace of exports, said AmResearch senior economist Manokaran Mottain.

The International Trade and Industry Ministry (MITI) attributed February's export growth to electrical and electronic (E&E) products which had increased by 23.5 per cent, crude petroleum, (125.7 per cent), palm oil, (31.3 per cent), chemicals and chemical products, (33.4 per cent) as well as optical and scientific equipment, (42.4 per cent).

Imports in February, meanwhile, surged 27.9 per cent year-on-year to RM35.17 billion, while total trade rose 22.3 per cent to RM82.01 billion.

Compared to January 2010, exports decreased by 10.7 per cent and imports declined by 11 per cent, reflecting the shorter working period and the festive season.

According to MITI, Singapore, China, Japan, the US and Thailand were the top five export destinations.

Exports to Asean in February 2010 increased by 26.1 per cent to RM12.46 billion, while exports to China rose 38.6 per cent to RM5.69 billion compared to February 2009's figures.

Exports to the European Union (EU) expanded by 25.9 per cent, mainly due to higher exports of E&E products, palm oil and crude rubber.

It said exports to the US rose by 2.5 per cent in February, mainly due to demand for optical and scientific equipment as well as wood and rubber products.

"Although the export performance was affected by the shorter working month and calendar month, the drop was somewhat alarming given the trough was in January-February period in 2009," said Manokaran.

He is confident that the export trend will continue and gain momentum and that the strong digit growth is in tandem with regional peers.