Malaysia reports rises in both imports, exports in July
Malaysia’s imports and exports experienced a surge in July this year, announced the Ministry of International Trade and Industry (MITI) on September 4.
Illustrative image (Photo: VNA)The country’s exports picked up 3.5 percent from a year earlier to stand at 63.23 billion ringgits (15 billion USD) as demand for electrical and electronic goods increased.
Increases were seen in exports to China , the US , Vietnam , Indonesia , Thailand , Japan and the EU in July, the MITI said.
Import value escalated 5.9 percent to 60.85 billion ringgits (13.9 billion USD) in July, given increases in imports of electronic circuits, petroleum oils and medicament.
MITI also said that Malaysia ’s trade revenue reached 819.06 billion ringgits (nearly 200 billion USD) in the first seven months of the year. Of the total, the country raked in 431.57 billion ringgits from exports, down 2.2 percent while splashing out an amount of 387.49 billion ringgits on imports, sliding 1.4 percent compared to the same period last year.
In the January-July period, the country witnessed an increase in exports to China (6 percent), the EU (3.2 percent) and the US (10.7 percent) while seeing a fall in FTA partners (3.7 percent) and ASEAN bloc (2 percent).-VNA
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