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Malaysia records strong trade growth in H1

 Malaysia ’s trade turnover recorded a year-on-year rise of 9.9 percent in the first half of 2014, reaching 715.6 billion RM (223.6 billion USD), according to the country’s Department of Statistics.
 Malaysia ’s trade turnoverrecorded a year-on-year rise of 9.9 percent in the first half of 2014,reaching 715.6 billion RM (223.6 billion USD), according to thecountry’s Department of Statistics.
In the period, exportsrecorded a double-digit growth of 12.5 percent to 380.14 billion RM(118.8 billion USD) while imports increased by 7.1 percent to 335.46billion RM (104.8 billion USD), up 12.5 percent and 7.1 percent againstthe same period last year, respectively.
Trade surplus was 44.68 billion RM (14.3 billion USD), a year-on-year surge of 81.8 percent.
According to the department, Australia and the Republic of Koreareported the highest growth rate in trade with Malaysia , with 31percent and 16 percent, respectively.
Two-way trade between Malaysia and its current Free Trade Agreement (FTA) partners rose by 8.4 percent.
The country expects a stronger trade turnover growth when joining aTrans-Pacific Partnership (TPP) agreement and FTAs with the EuropeanUnion, said Minister of International Trade and Industry MustapaMohamed.-VNA
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