Malaysia’s exports expanded by 10.7 percent to 75.55 billion ringgit (17.01 billion U.S. dollars) in December, recording the highest value in 2016, said the International Trade and Industry Ministry in a report on Wednesday.
The figure was the first time for Malaysia to have a double digit increase in exports in 2016. The country’s imports in December also rose to 66.83 billion ringgit, a 11.5 percent compared with that of 2015, the report said.
Total trade in the month stood at 142.39 billion ringgit, a 11.1 percent year-on-year increase, leaving a higher trade surplus of 8.72 billion ringgit.
For 2016, Malaysia’s total trade grew by 1.5 percent, reaching 1.485 trillion ringgit, compared to 1.463 trillion ringgit in 2015, mainly contributed by higher trade with China, the United States and the Republic of Korea. Exports rose by 1.1 percent while imports increased by 1.9 percent.
The ministry said trade “remained resilient despite the uncertainties in the global environment.”
China continued to be the largest trading partner with Malaysia for the 8th consecutive year since 2009, the report said. (1 Malaysian Ringgit equals 0.23 US dollar) Enditem