Malaysia’s total trade is forecast to grow 5-6 percent in 2014, the Malaysian News Agency Bernama reported.
Ofthe figure, exports are expected to rise 3-4 percent and imports, 8percent which are supported by the improving overall global economicoutlook,
The country’s exports in 2013 grew by 2.4 percentyear-on-year to 719.81 billion RM, while imports saw a growth of 7percent to 649.19 billion RM, with total trade rising 4.6 percent to1.37 trillion RM (1 USD = 3.3 RM), International Trade and IndustryMinister Mustapa Mohamed told reporters and diplomats on February 7.
Exports to ASEAN markets led the growth, accounting for 28 percent of total exports.
Higherexports were also contributed by the higher imports by free tradeagreement partners such as Australia, China, the Republic of Korea,Chile and New Zealand.
China remained the country’s toptrading partner for the fifth consecutive year. In 2013, Malaysia'strade with China expanded by 12.5 percent to 203.23 billion RM.
Trade with the EU increased by 6.3 percent to 135.79 billion RM.
Majorexport items last year were electric and electronic products, medicaldevices, manufactures of metal, chemicals and chemical products as wellas machinery, appliances and spare parts.
Meanwhile, mainimport products were for manufacturing goods, such as refined petroleumproducts and transport equipment.
The minister said thatimports did grow faster than exports, but it was not a concern asMalaysia was still a trade-surplus country of 70.63 billion RM – the16th consecutive year of surplus./.
Ofthe figure, exports are expected to rise 3-4 percent and imports, 8percent which are supported by the improving overall global economicoutlook,
The country’s exports in 2013 grew by 2.4 percentyear-on-year to 719.81 billion RM, while imports saw a growth of 7percent to 649.19 billion RM, with total trade rising 4.6 percent to1.37 trillion RM (1 USD = 3.3 RM), International Trade and IndustryMinister Mustapa Mohamed told reporters and diplomats on February 7.
Exports to ASEAN markets led the growth, accounting for 28 percent of total exports.
Higherexports were also contributed by the higher imports by free tradeagreement partners such as Australia, China, the Republic of Korea,Chile and New Zealand.
China remained the country’s toptrading partner for the fifth consecutive year. In 2013, Malaysia'strade with China expanded by 12.5 percent to 203.23 billion RM.
Trade with the EU increased by 6.3 percent to 135.79 billion RM.
Majorexport items last year were electric and electronic products, medicaldevices, manufactures of metal, chemicals and chemical products as wellas machinery, appliances and spare parts.
Meanwhile, mainimport products were for manufacturing goods, such as refined petroleumproducts and transport equipment.
The minister said thatimports did grow faster than exports, but it was not a concern asMalaysia was still a trade-surplus country of 70.63 billion RM – the16th consecutive year of surplus./.
