Malaysia’s Jan Exports Rise 1.6%

Malaysia's exports rose by 1.6 percent year on year to 112.84 billion ringgit (25.46 billion U.S. dollars) in January, official data showed on Monday.

The export expansion was bolstered by the strong export of petroleum products, liquefied natural gas as well as electrical and electronic (E&E) products, the Ministry of International Trade and Industry said in a statement.

It also said that exports to major trading partners, notably the ASEAN (Association of Southeast Asian Nations) countries and Japan, also recorded double-digit growth.

Meanwhile, Malaysia's trade expanded by 1.9 percent year-on-year to 207.51 billion ringgit in January.

Import was higher by 2.3 percent to 94.67 billion ringgit.

The country's surplus amounted to 18.16 billion ringgit, a decrease of 2.1 percent.

In January, exports of manufactured goods, which accounted for 84.2 percent of the total export, decreased marginally by 0.1 percent year on year to 94.97 billion ringgit.

This was due to lower exports of manufactures of metal, rubber products as well as iron and steel products.

However, expansion in exports was seen for petroleum products, E&E products, optical and scientific equipment as well as beverages and tobacco.

Collectively, exports of petroleum products and E&E products accounted for 52.2 percent of Malaysia's total export and rose by 7.66 billion ringgit.