KUALA LUMPUR (June 5): Malaysia’s exports grew 20.6% to RM73.97 billion in April — the fifth straight month of double digit growth – with main contributors to the growth comprising palm oil and palm oil-based products and electrical and electronic (E&E) products.
 
The Department of Statistics Malaysia said E&E products which made up 35.5% of total April exports, had risen 22.2% year-on-year to RM26.2 billion, while palm oil products which accounted for 8.2% of April exports, increased 24.1% to RM6.1 billion.
 
However, exports of refined petroleum products, which accounted for 5.1% of total exports, shrank 15.8% year-on-year to RM3.8 billion, due to a decrease in export volume by 24.8%, as average unit value increased 12%.
 
Exports to China also rose 50.6% to RM10.2 billion in April while exports to Singapore increased 15.8% to RM10.6 billion and to the European Union by 26.5% to RM7.5 billion.
 
The department, in a statement, said Malaysia’s imports rose 24.7% to RM65.2 billion. Imports from China were up 15.3% to RM12.5 billion, while Singapore imports were up 22.8% to RM6.7 billion and European Union imports were up 2.5% to RM5.4 billion.
 
Total trade in April was valued at RM139.18 billion, an expansion of RM25.5 billion or 22.5% as compared with the same month last year. A trade surplus of RM8.75 billion was recorded in April, down RM3.3% compared with RM9.1 billion registered a year ago.