Monday, August 21, 2017 - 21:10:14

Malaysia’s exports surpass expectation

VNA Print

(Photo: www.tradingeconomics.com)

Kuala Lumpur (VNA) – Malaysia’s overseas shipments reeled in 75.81 billion RM (18.1 billion USD) in October, up 16.7 percent year on year, according to statistics of the Ministry of International Trade and Industry. 

This was the first time in 2015 Malaysia has recorded two-digit growth in export revenue, far exceeding market analysts’ expectations.

The growth is attributable to demand recovery from major trade partners, including the ASEAN, China, the EU and the US. During the period, ASEAN countries imported 20.51 billion RM worth of commodities from Malaysia, followed by China (9.12 billion RM), the EU (8.2 billion RM), and the US (7.3 billion RM).

Manufactured products shipped abroad brought the largest revenue at 60.98 billion RM, expanding 22 percent from 2014. Agricultural goods, mostly from the palm oil industry, meanwhile, generated 6.38 billion RM, an annual increase of 6.4 percent.

Overall ten-month export revenue amounted to 644.02 billion RM, with trade surplus reaching 76.07 billion RM.

In contrast, local import in October dropped slightly from the same period last year to 63.65 billion MR, and the figure for 10 months also fell to 567.96 RM.-VNA

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