Malaysian external trade registered double digit growth in the month of March compared to last year, according to data released by Malaysian statistics department today.
On seasonally adjusted terms, exports decreased RM778.2 million or 1% to RM79.0 billion compared with the previous month, While imports increased RM5.0 billion or 6.8% to RM78.3 billion in comparison with last month.
A trade surplus of RM5.4 billion was recorded in March 2017, down RM3.3 billion or 38.1% compared to previous month..
On a year-on-year basis, exports continued to register a strong growth with increase of RM16.0 billion or 24.1 to RM82.6 billion, at the same time Re-exports in March 2017 was valued at RM12.4 billion and accounted for 15.0% of total exports.
Exports value increased on higher exports of RM3.1 billion to China, RM2.4 billion to Singapore, RM1.9 billion to European Union, RM1.1 billion to United states and RM740.0 million to Japan.
Similarly, On a y-o-y basis, imports also recorded a strong increase of RM21.8 billion or 39.4% to RM77.2 billion. Imports from major countries include RM4.7 billion from China, RM4.3 billion from United States, RM1.8 billion from Republic of Korea (+), RM1.5 billion from Singapore and RM1.4 billion from European Union.