11 March 2013 05:07 [Source: ICIS news]
SINGAPORE (ICIS)--Malaysia’s petrochemical exports grew by 6.4% year on year to ringgit (M$) 3.76bn ($1.21bn) in January 2013, tracking the overall hike in shipments abroad and higher shipments of pure xylene, official data showed on Monday.
The country’s overall exports rose by 3.5% year on year to M$57.0bn in January, while total imports were up by 16% at M$53.7bn, the Department of Statistics said in its monthly report.
Overseas shipment of refined petroleum products rose by 35% year on year to M$5.76bn in January, while exports of liquefied natural gas (LNG) were down by 13% at M$4.89bn.
Exports of palm oil, which includes crude palm oil (CPO), fractionated palm oil, palm kernel oil, olein and stearin, were down by 23% year on year at M$3.72bn in January.
Overall shipments to the Association of South East Asian Nations (ASEAN) were up by 29% year on year at M$18.1bn, while exports to China – its single largest export market in January– rose by 8.6% to M$6.5bn.
Exports to the EU fell by 5.7% year on year to M$4.72bn in January as a result of lower exports of palm oil, chemicals and chemical products as well as crude rubber.
($1 = M$3.10)
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