Malaysia enjoys more than 20 percent rise in April’s exports

Illustrative image (Source: Internet)

Kuala Lumpur (VNA) – Malaysia’sMinistry of International Trade and Industry on June 5 reported that thecountry’s exports in April rose 20.6 percent year on year to 73.97 billionringgit (17.33 billion USD) thanks to increased demand for processed, miningand agricultural products.

This was the fifth consecutive month where exports posteddouble digit growth.

Total trade surged by 22.5 percent to 139.18 billionringgit (32.76 billion USD) compared with the year before, supported byexpansion in trade with ASEAN, China, Japan, India, the European Union and the US.

Meanwhile, imports expanded by 24.7 percent to 65.21billion ringgit (15.3 billion USD), resulting in a trade surplus of 8.75billion ringgit (2.05 billion USD).

However, on a month-on-month basis, total trade, exportsand imports dropped by 12.9 percent, 10.5 percent and 15.6 percentrespectively.

According to United Overseas Bank economist Julia Goh andTA Securities' chief economist Shazma Juliana Abu Bakar, April's export figure waswithin expectations.

She expected exports to moderate in the second half of theyear due to various factors, including moderation in regional demand, thestrengthening of the ringgit and a higher base effect for exports in the secondhalf of last year.-VNA

VNA