Malaysia's exports up 5.4% in May as chemicals shipments rise

05 July 2011 08:23  [Source: ICIS news]

SINGAPORE (ICIS)--Malaysia’s overall exports rose 5.4% year on year to Malaysian ringgit (M$) 55.1bn ($18.4bn) in May as a result of higher overseas shipments of palm oil, chemicals and chemical products, official statistics showed on Tuesday.

Some M$4.03bn worth of chemicals and chemicals products were shipped overseas in May, while the country exported around M$5.33bn worth of palm oil, the Department of Statistics said in its preliminary monthly trade report.

Malaysian exports of crude petroleum totalled M$3.12bn in May, while overseas cargoes of refined petroleum products totalled M$3.12bn, according to the report.

China, Singapore, Japan, the US and Thailand were the top five export destinations, accounting for 49.4% of Malaysia’s total exports in May, according to the report.

Total imports grew 5.6% year on year to M$46.61bn in May, the report said.

Overall exports rose 6.19% year on year to M$279.3bn in the first half of this year compared with the same period a year earlier, boosted by higher exports of refined petroleum products and palm oil, it said.

Imports for the first six months of 2011 rose by 10.3% year to M$228bn, the Department of Statistics said in its report.

($1 = M$3)

By: Nurluqman Suratman

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