KUALA LUMPUR: The South East Asian country Malaysia’s exports jumped by 15% year-on-year to 131.63 billion ringgit or $28.94 billion, in October.
According to International Trade and Industry Ministry, the country’s exports to main trading partners especially ASEAN (Association of Southeast Asian Nations) countries, the United States, the European Union, Japan and China increased last month.
Big shipments of petroleum products, and electrical and electronic products majorly boosted the growth in export
Manufactured, Petroleum and Electrical Goods’ Exports Rise
The country’s exports of manufactured goods in the previous month (which accounted for 84.5 percent of total exports) increased by 12.6 percent year on year to 111.18 billion ringgit (24.46 billion dollars). While petroleum, and electrical and electronic products exports recorded over 1-billion-ringgit (220 million dollars) increase.
In the meantime, mining goods exports also recorded growth of 85.9 percent year on year to reach at 11.22 billion ringgit (2.46 billion dollars).
Agricultural Goods Exports Decline
However, agricultural goods exports contracted by 7 percent to 8.6-billion-ringgit (1.89 billion dollars) year on year. The contraction in the sector was caused by the decreased exports of palm oil, agricultural products based on it and the natural rubber. — APP/ XINHUA
