Malaysia trade sees upbeat increase in 8 months
Malaysia trade amounted to 1.163 trillion RM (275.3 billion USD) between January and August, up 22.6 percent from the same period last year, reported the local New Straits Times.
Malaysia's International Trade and Industry Minister II Datuk Seri Ong Ka Chuan (Photo: nst.com.my)Kuala Lumpur (VNA) – Malaysia trade amounted to 1.163 trillion RM (275.3 billion USD) between January and August, up 22.6 percent from the same period last year, reported the local New Straits Times.
International Trade and Industry Minister II Datuk Seri Ong Ka Chuan said in the first eight months of 2017, the country recorded 611.92 billion RM (114.8 billion USD) for export and 551.07 billion RM (130.47 billion USD) for import, annual increases of 22.2 percent and 23 percent respectively.
The figures resulted in a trade surplus of 60.84 billion RM (14.4 billion USD), 16 percent higher than that of last year.
Electrical and electronic goods dominated both export and import categories with 220.56 billion RM (52.2 billion USD) and 165 billion RM (39 billion USD) respectively.
Ong attributed the domination to global countries gearing up for the 4.0 industrial revolution.
He said with such outcomes, Malaysia was on track to hit the 1.5 trillion RM it targeted for 2017 total trade.
During the period, China remained Malaysia’s largest trade partner.-VNA
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