[ad_1]
KUALA LUMPUR: Malaysia’s exports in November increased 4.3% to $ 84.43 billion thanks to increased shipments to the US, Singapore, China and Hong Kong.
The Ministry of Industry and International Trade (Miti) said in a statement on Monday that the country’s exports had risen for the third consecutive month on a year-on-year (year-on-year) basis.
However, the value of exports fell by 5% compared to October.
The trade surplus in November increased 151.6% to RM16.82bil, the highest on record for the month.
Imports decreased 9% to RM67.61 billion.
During the 11 months to November 30, the country’s trade surplus registered a double digit growth of 23.1% to RM163.86bil compared to the same period last year.
Total trade during the period declined 4.6% year-on-year to RM1.6 trillion.
By sector, exports of manufactured goods increased by 8.1% year-on-year (year-on-year) to RM74.34 billion, mainly due to higher exports of electrical and electronic products and rubber products.
Other manufacturers that saw higher demand were solid-state storage devices, wood products, and optical and scientific equipment.
Agricultural product exports also increased 6% to RM5.65 billion compared to November last year due to increased exports of palm oil and palm oil-based agricultural products.
Meanwhile, exports of mining goods decreased 34.6% to RM4.15 billion due to lower exports of liquefied natural gas, crude oil, as well as petroleum condensates and other petroleum oils.
In the case of imports, inbound shipments of intermediate goods fell 10.6% due to lower imports of spare parts and accessories for capital goods except transport equipment, particularly machinery, equipment and electrical spare parts.
Capital goods imports decreased 26.5% while incoming consumer goods contracted 7.2% due to lower imports of non-durable goods, especially pharmaceuticals.
[ad_2]
