Malaysia's total trade in October rose 0.6 per cent to RM113 billion from the RM112 billion registered in the same month of last year, the Ministry of International Trade and Industry (Miti) said.
The increase in total trade was contributed mainly by higher trade with Asean which increased by RM3.1 billion, Australia (RM889.8 million) and South Korea (RM736 million).
Miti said in a statement today that exports were valued at RM61.29 billion, a decrease of 3.2 per cent when compared with October 2011, while imports was higher by 5.7 per cent to RM51.71 billion.
"Exports performance in October 2012 was still impacted by the Euro Zone crisis and the slower growth momentum in China and India," it added.
Compared with September 2012, exports in October increased by 1.8 per cent, but imports and total trade was lower by 3.8 per cent and 0.8 per cent, respectively.
The ministry said exports to Asean increased by 8.9 per cent to RM17.2 billion, accounting for 28.1 per cent of Malaysia's total exports.
Exports to the US continued to register positive growth for the sixth consecutive month since May 2012, with a 11 per cent increase to RM5.55 billion compared with October.
Total exports to China decreased by 15.3 per cent to RM7.16 billion, due mainly to lower exports of agricultural goods especially palm oil and crude rubber.
Exports to Japan in October decreased by 14.4 per cent to RM6.46
billion, owing to lower exports of liquefied natural gas.
Total imports in October increased by 5.7 per cent to RM51.71 billion from October of last year.
Miti said the country's total trade in the first ten months of 2012 had surpassed the one trillion mark, at RM1.096 trillion, an increase of four per cent from the corresponding period of 2011.
Despite the challenging global trading environment, exports increased by 1.1 per cent to RM586.79 billion, while imports rose by 7.4 per cent to RM508.95 billion, resulting in a trade surplus of RM77.84 billion.
Growth in trade was mostly supported by regional markets in Asia, Miti said.
Business & Investment Opportunities
Saigon Business Corporation Pte Ltd (SBC) is incorporated in Singapore since 1994. As Your Business Companion, we propose a range of services in Strategy, Investment and Management, focusing Health care and Life Science with expertise in ASEAN 's area. We are currently changing the platform of www.yourvietnamexpert.com, if any request, please, contact directly Dr Christian SIODMAK, business strategist, owner and CEO of SBC at email@example.com. Many thanks.