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Malaysia sees trade surplus for 208 straight months

Malaysia recorded the 208th consecutive month of trade surplus in February 2015, with a value of 4.52 billion RM (1.25 billion USD), according to the country’s Ministry of International Trade and Industry (MITI).
Malaysia recorded the 208th consecutive month of trade surplus inFebruary 2015, with a value of 4.52 billion RM (1.25 billion USD),according to the country’s Ministry of International Trade and Industry(MITI).

Exports for the month amounted to 53.17billion RM and imports 48.65 billion RM respectively, compared with58.91 billion RM and 48.48 billion RM respectively in February 2014.

The MITI said the factors that contributed to lower growth in trade inFebruary 2015 were lower commodities prices and weak global demand,particularly in China and the European Union.

Higherexports were seen in machinery, appliances and parts, optical andscientific equipment, textiles, clothing and footwear as well asprocessed food.

However, exports of refined petroleum products and crude oil declined by 32.5 percent and 46 percent, respectively.

Growth in exports was recorded for the ASEAN market (27.6 percent), Japan (13.3 percent) and the US (8.2 percent).

China was Malaysia’s major import source accounting for 8.73 billion RM, followed by Singapore, Japan, and the US.

As for imports in February, major import products were electrical andelectronic products, petroleum products, chemical and chemical productsand machinery, appliances and parts, said the MITI.-VNA
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