Trade with China up to 13.6 per cent in March 2019

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As for mining goods exports, it increased by 3.8 per cent to RM21.97 billion, contributed by higher exports of LNG while exports of agriculture goods contracted by 12.5 per cent to RM15.59 billion, owing mainly to lower exports of palm oil and palm oil-based agriculture products.

MITI also said that trade with China which made up 16.5 per cent of total trade of the country rose by 13.6 per cent year-on-year (y-o-y) to RM25.44 billion in March 2019, while in Q1 2019 it has expanded by 4.5 per cent to RM72.02 billion compared to Q1 2018.

“Exports grew by 11.8 per cent to RM11.67 billion steered by higher exports of petroleum products, E&E products, chemicals and chemical products, LNG as well as metalliferous ores and metal scrap,” it said.

Compared with February 2019, trade, exports and imports were higher by 44 per cent, 37.3 per cent and 50.2 per cent, respectively.

As for trade with the US, it rose by 2.1 per cent y-o-y to RM13.46 billion or 8.8 per cent of Malaysia’s total trade in March 2019.

“Imports from the US expanded by 10.6 per cent to RM5.83 billion, backed by higher exports for optical and scientific equipment, rubber products, palm oil-based manufactured products, iron and steel products as well as processed food, despite slips in exports for transport equipment, petroleum products, manufactures of metal as well as chemicals and chemical products,” it said.

Meanwhile, Malaysia’s trade in March 2019 decreased marginally by 0.3 per cent to RM153.73 billion compared to March 2018 with lower trade recorded with Japan, ASEAN, India, Hong Kong, the European Union, the Republic of Korea and Turkey.

“Compared to Q4 2018, total trade, exports and imports contracted by 12 per cent, 10.8 per cent, 13.4 per cent, respectively. Trade surplus expanded by 6.1 per cent,” it said. — Bernama