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Malaysia’s exports remained robust in January 2007, registering RM46.99 billion, the highest value ever recorded for the month of January. This is an increase of 8.9% from January 2006, attributed mainly to higher exports of electrical and electronic (E&E) products, chemicals and chemical products, palm oil, manufactures of metal, wood products and machinery, appliances and parts.
Consistent with the seasonal and regional trends of lower exports in January compared with the preceding month, exports in January 2007 was 10.5% lower than the strong export performance recorded in December 2006.
Imports in January 2007 expanded by 17.6% from a year ago to RM40.38 billion on account of significant increases in imports of intermediate and capital goods. The imports value was 1.4% lower than that of December 2006.
A trade surplus of RM6.61 billion was recorded in January 2007, the 111th consecutive month of monthly trade surplus since November 1997. Total trade was RM87.36 billion, an increase of 12.7% from January 2006.
Export destinations
ASEAN, the United States of America (USA), the European Union (EU), Japan, the People’s Republic of China (PRC) and Hong Kong SAR, together accounted for 78.6% of Malaysia’s total exports in January 2007.
ASEAN absorbed RM12.15 billion or 25.9% of Malaysia’s total exports in January 2007, from RM12.56 billion in December 2006. Compared with January 2006, exports to ASEAN recorded an increase of 4.1%.
Exports to ASEAN in January 2007:
Singapore |
RM 6.78 billion |
Thailand |
RM 2.74 billion |
Indonesia |
RM 1.40 billion |
Philippines |
RM 618.6 million |
Viet Nam |
RM 427.5 million |
Brunei Darussalam |
RM 101.9 million |
Cambodia |
RM 40.4 million |
Myanmar |
RM 30.6 million |
Lao PDR |
RM 2.5 million |
Exports to the USA in January 2007 amounted to RM8.14 billion or 17.3% of Malaysia’s total exports, compared with RM9.65 billion in December 2006. The decline was attributed to lower exports of E&E products and palm oil.
In January 2007, the total number of EU members has increased to 27 countries with the accession of Bulgaria and Romania. Exports to the EU were RM5.92 billion, or 12.6% of Malaysia’s total exports in January 2007, compared with RM7.34 billion in December 2006. Exports to the EU increased by 18.6% from January 2006.
Exports to major EU countries in January 2007:
Netherlands |
RM 1.61 billion |
Germany |
RM 1.15 billion |
United Kingdom |
RM 974.2 million |
France |
RM 565.6 million |
Italy |
RM 291.0 million |
Spain |
RM 196.7 million |
Belgium |
RM 176.5 million |
Finland |
RM 172.6 million |
Ireland |
RM 135.2 million |
Poland |
RM 112.2 million |
Hungary |
RM 111.1 million |
Exports to Japan in January 2007 amounted to RM4.22 billion, compared with RM4.92 billion in December 2006. Exports of E&E products, refined petroleum and LNG were lower, while exports of crude petroleum and palm oil registered marked increases.
Exports to the PRC was RM4.18 billion, an increase of 1.6% compared with December 2006, or a surge of 64.2% from a year ago. The increase was attributed mainly to higher exports of E&E products and chemicals and chemical products.
Exports to Hong Kong SAR remained relatively unchanged amounting to RM2.32 billion. Compared with January 2006, exports increased by 7.7%.
Exports to West Asia totaled RM1.57 billion in January 2007, from RM1.77 billion in the previous month. Compared with January 2006, exports surged by 23.4%.
Export Products
Major exports in January 2007:
Electrical and electronic products (RM21.99 billion or 46.8% of total exports); |
Chemicals and chemical products (RM2.71 billion or 5.8% of total exports); |
Liquefied natural gas (RM2.4 billion or 5.1% of total exports); |
Palm oil (RM 2.1 billion or 4.5% of total exports); |
Crude petroleum (RM1.83 billion or 3.9% of total exports); |
Machinery, appliances and parts (RM1.69 billion or 3.6% of total exports); |
Wood products (RM1.5 billion or 3.2% of total exports); |
Refined petroleum products (RM1.25 billion or 2.7% of total exports); |
Manufactures of metal (RM1.24 billion or 2.6% of total exports); and |
Optical and scientific equipment (RM1.01 billion or 2.2% of total exports). |
IMPORTS IN JANUARY 2007
Imports by end use for the three main categories in January 2007:
Intermediate goods (RM27.78 billion or 68.8% of total imports); |
Capital goods (RM5.86 billion or 14.5% of total imports); and |
Consumption goods (RM2.49 billion or 6.2% of total imports). |
Major imports in January 2007:
Electrical and electronic products (RM17.22 billion or 42.7% of total imports); |
Chemicals and chemical products (RM3.13 billion or 7.7% of total imports); |
Machinery, appliances and parts (RM3.09 billion or 7.6% of total imports); |
Manufactures of metal (RM2.16 billion or 5.3% of total imports); |
Transport equipment (RM1.9 billion or 4.7% of total imports); |
Iron and steel products (RM1.68 billion or 4% of total imports); |
Refined petroleum products (RM1.6 billion or 4% of total imports); and |
Crude petroleum (RM1.29 billion or 3.2% of total imports). |
Major sources of imports in January 2007:
|
Import value |
Share to total imports |
ASEAN |
RM 9.48 billion |
23.5% |
PRC |
RM 5.03 billion |
12.5% |
Japan |
RM 4.61 billion |
11.4% |
EU |
RM 4.55 billion |
11.3% |
USA |
RM 4.53 billion |
11.2% |
ROK |
RM 2.99 billion |
7.4% |
Taiwan |
RM 2.92 billion |
7.2% |
West Asia |
RM 1.05 billion |
2.6% |
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