June exports up 10%, higher trade surplus of RM9.9 billion

PETALING JAYA: Malaysia's exports expanded 10% or RM6.6 billion in June 2017 to RM73.1 billion from RM66.4 billion a year ago, mainly contributed by electrical and electronic products (38.3% of total exports), liquefied natural gas, palm oil and palm oil-based products.
Trade surplus stood at RM9.9 billion in June, RM4.4 billion or 79% higher for both year-on-year (yoy) on month-on-month (mom).
The Statistics Department said the increase in exports was due to higher exports to China, Japan, Singapore, European Union and Korea.
Re-exports in June 2017 was valued at RM9.7 billion and accounted for 13.2% of total exports. Domestic exports was higher by RM7.6 billion or 13.6% to register at RM63.4 billion.
On a mom basis, exports decreased 8% or RM6.3 billion from RM79.4 billion, mainly contributed by refined petroleum products, palm oil and palm oil-based products.
Imports also increased 3.7% yoy or RM2.3 billion to RM63.2 billion, contributed by intermediate goods and capital goods. Higher imports were mainly from the US, India, Taiwan, Switzerland and Thailand.
Total trade in June 2017, which was valued at RM136.3 billion, grew RM8.9 billion or 7.0% from a year ago. However, it posted a decrease of RM17.1 billion or 11.1% when compared to the previous month.