|
KUALA LUMPUR - MALAYSIA'S exports rose 15.1 per cent in September, defying expectations, thanks to stronger demand for electronic goods and commodities, Trade Minister Muhyiddin Yassin said on Wednesday.
Exports totalled 62.31 billion ringgit (S$26.16 billion), the second highest monthly export value on record, while imports for the month rose 11.9 per cent to 47.78 billion ringgit from a year ago.
The September trade surplus rose to 14.53 billion ringgit from a revised 12.61 billion ringgit in August.
'Despite the softening of the global economy, Malaysia registered a strong export growth in September 2008,' Mr Muhyiddin told reporters.
He said the increase was mostly due to higher exports of electrical and electronic products, supported by growth in demand for crude petroleum, refined petroleum products, optical and scientific equipment, iron and steel products, and palm oil.
Softening demand for electrical and electronics products in the US was offset by growth from the Association of Southeast Asian Nations and other emerging economies including China, India, Russia and Brazil.
'The outlook for the remaining months of 2008 and next year will depend on the interplay of various factors like the fluctuation of commodity prices and currency,' mr Muhyiddin told reporters.
He said that although 2009 would be a challenging year with the United States facing economic turmoil, increased trade with other emerging markets would help 'cushion the impact'.
The US is the main market for Malaysia's electrical and electronics goods, which account for about 40 per cent of total exports.
For the nine months to September, exports rose 16 per cent to 512.21 billion ringgit, while imports grew 9.1 per cent to 403.91 billion ringgit, bringing the trade surplus for the nine months to 109.03 billion ringgit.
|