Petaling Jaya (The Star/ANN) - Malaysia's trade continued to flourish, rising 7.7% year-on-year in the first seven months this year to a total 724.09 billion ringgit (US$241 billion).
Exports climbed 6.9% to 396.35 billion ringgit from 370.9 billion ringgit a year earlier, while imports rose 8.7% to 327.75 billion ringgit from 301.54 billion ringgit.
In a statement issued by the International Trade and Industry Ministry (Miti), Minister Mustapa Mohamed noted that trade surplus stood at 68.6 billion ringgit.
Trade in July was up 5.1% year-on-year to 109.04 billion ringgit, and registered a surplus of 9.45 billion ringgit. Malaysia's trade has been in surplus since November 1997.
Exports in July increased 7.1% year-on-year to 59.24 billion ringgit while imports were 2.9% higher at 49.79 billion ringgit. Exports and imports in July 2010 were 55.33 billion ringgit and 48.39 billion ringgit, respectively.
Miti said the July exports mainly comprised electrical and electronics products, valued at 20.62 billion ringgit, while palm oil shipments were at 6.02 billion ringgit.
Other major exports included liquefied natural gas, chemical products, crude petroleum, refined petroleum products, machinery and appliances, metal products as well as optical and scientific equipment.
The biggest export markets for July were China and Singapore, which took in 8.08 billion ringgit and 7.25 billion ringgit worth of goods.
The other major export markets were Japan, the United States, Thailand, India, Hong Kong, Republic of Korea, Taiwan and the Netherlands.
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