KUALA LUMPUR: Malaysia's exports rose in May to RM84.15 billion, leading to a RM9.08 billion trade surplus or a margin of 11.9 per cent.
International Trade and Industry Ministry said Malaysia's total imports expanded 1.4 per cent to RM75.06 billion from a year earlier, easing from the 4.4 per cent rise in April.
The higher exports growth than imports lead to 259th consecutive month of trade surplus since November 1997.
MIDF Research said the sixth consecutive months of positive growth indicated a good momentum for this year.
It also provided brighter outlook for economic growth in the second quarter as domestic exports involve high value-added activities.
“Due to higher base effects and continuous signs of faltering trade globally derive from rising protectionism and a loss of momentum in some major economies, especially in Europe, we foresee exports growth to moderate further at 3.6 per cent this year (2018: 6.7 per cent), unchanged from our earlier forecast,” it said in a report today.
The ministry said exports of agriculture goods was up 15.3 per cent to RM6.28 billion in May after 15 consecutive months of decline since February 2018.
This was fuelled by higher palm oil exports of RM3.85 billion.
The ministry noted that exports of manufactured goods had grown 3.1 per cent to RM70.87 billion in May. This was driven mainly by higher exports of iron and steel products, machinery, equipment and parts, transport equipment, chemicals and chemical products, as well as processed food.
Malaysia's exports to China, the number one trading partner, declined 2.2 per cent to RM11.28 billion, amid lower shipments of manufactured goods.
Exports to the United States, however, jumped 11.7 per cent to RM7.82 billion, on higher demand for electrical and electronic products, palm oil and related products, and other manufactured goods.
Malaysia's exports to Asean rose 4.7 per cent to RM24.78 billion, owing to higher exports of iron and steel products, machinery, equipment and parts, transport equipment, petroleum condensates and other petroleum oil as well as liquefied natural gas.
In the first five months of 2019, data from the Statistics Department showed that Malaysia's total trade increased 0.1 per cent to RM753.88 billion, while exports grew by 0.3 per cent to RM405.36 billion.
Imports shrank by 0.3 per cent to RM348.52 billion. This lead to trade surplus rising 4.3 per cent to RM56.85 billion from January to May.
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