Malaysia's exports hit monthly record

Malaysia's exports hit monthly record

KUALA LUMPUR: Malaysia's exports rose 16 percent from a year earlier to hit an all-time monthly record of 46.67 billion ringgit (US$12.28 billion) in March, the trade ministry said on Wednesday.

Imports for the month rose 8.7 percent to 36.29 billion ringgit to give a record trade surplus of 10.38 billion ringgit, up 51.2 percent on March 2004, the ministry said.

Total trade for the first quarter of 2005 was 219.71 billion ringgit, with a surplus of 25.15 billion ringgit. Exports in the first quarter were up 13.5 percent while imports were 9.8 percent higher.

March was the 89th consecutive monthly trade surplus for Malaysia since November 1997.

"All major products registered double digit growth in exports, with the most significant growth recorded for electrical and electronic products, crude petroleum, refined petroleum, palm oil, appliances and parts and chemicals and chemical products," the ministry said.

Exports to fellow members of the Association of Southeast Asian Nations (ASEAN) were up 31.7 percent from February, followed by the European Union, 20.7 percent, the United States, 28.5 percent, and Hong Kong, up 43.6 percent.

These countries plus Japan and China were Malaysia's major export markets in March, taking 78.6 percent of total shipments. -- AFP