(MENAFN- Qatar News Agency) Malaysia's total trade in October 2013 rose 11.6% to 125.98 Billion Malaysian Ringgit (RM) compared with the same month in 2012.
According to the statement issued by the Malaysian Ministry of International Trade and Industry (MITI) and carried by Malaysian News Agency (Bernama), Higher trade in October 2013 was recorded with China, which increased by RM2.78 billion, ASEAN RM1.47 billion, Australia RM1.2 billion, the European Union (EU) RM1.18 billion, Hong Kong RM637.4 million, Korea RM636.9 million) and India RM516.8 million. Exports to ASEAN rose 5.3% to RM18.11 billion, accounting for 27% of Malaysia's total exports in October 2013, the ministry said in a statement on the October 2013 Malaysia External Trade Statistics here.
It added exports to the United States were lower by 6.3%to RM5.2 billion compared with a year ago, attributed mainly to a decline in exports of optical and scientific equipment. Exports in October rose 9.6% compared with a year ago to RM67.11 billion, marking a fifth consecutive month of increase since June 2013, the ministry said. It said major exports for products for the month were electrical and electronic products, refined petroleum products, liquefied natural gas, palm oil, and chemicals and chemical products. Between January and October, Malaysia's total trade was RM1.132 trillion, an increase of 3.4% from RM1.095 trillion recorded during the same period in 2012. Exports increased by 0.9% to RM591.83 billion while imports expanded by 6.3% to RM540.38 billion, resulting in a trade surplus of RM51.45 billion.
The top five trading partners which registered expansion in trade were China increased by 9.9%, Singapore 1.5% and the EU 5.2%, while trade with Japan and the US declined by 8.1% and 1.8% respectively. Other trading partners which registered increases in trade with Malaysia were Korea 11.9%, Taiwan 9.3%, the United Arab Emirates UAE 13.2% and India 6.4%. Total trade with ASEAN increased by 4.1% to RM311.32 billion or 27.5% of Malaysia's trade during the period of January to October 2013.
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