Malaysia's overall exports up by 0.6% at over $227bn in 2012

08 February 2013 05:56  [Source: ICIS news]

SINGAPORE (ICIS)--Malaysia’s overall exports grew by 0.6% year on year to ringgit (M$) 702.2bn ($227.2bn) in 2012, as shipments to southeast Asia grew, official data showed on Friday.

The country’s total imports expanded by 5.9% year on year to M$607.4bn in 2012, resulting in a trade surplus of M$94.8bn, the Department of Statistics said in its monthly report.

Malaysia’s exports to the Association of Southeast Asian Nations (ASEAN) rose by 9.7% year on year to M$188.2bn, it said.

The major exports of manufactured goods to ASEAN that rose significantly in 2012 were chemical products , electrical and electronic products, parts and accessories of optical instrument for inspecting semiconductor devices, among others.

Meanwhile, exports to China fell by 3.1% year on year to M$88.8bn in 2012, mainly due to the decline in the shipments of commodities.

“However, exports of refined petroleum products, rubber products mainly compounded rubber as well as chemicals and chemical products primarily carboxylic acids, anhydrides and derivatives registered increases,” the Department of Statistics added.

($1 = M$3.09)

By: Nurluqman Suratman

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