05 Apr '11, 9am

Malaysia exports up 10.7% in February

KUALA LUMPUR: Malaysia on Tuesday said its exports, the mainstay of the country's economy, rose 10.7 per cent year-on-year in February although at a slower rate than the previous month. The trade ministry said overseas shipments had hit 51.85 billion ringgit ($17.1 billion) while imports grew by 11.5 per cent to 39.21 billion ringgit. It said total trade for February saw an annual increase of 11.0 per cent to 91.06 billion ringgit but exports decreased 5.5 per cent from January. The increase in shipments was boosted by electrical and electronic products, liquefied natural gas, palm oil, chemicals and chemical products. Electrical and electronic items account for about 40 percent of Malaysia's total exports to key markets such as Singapore, China, United States, Japan and Hong Kong. Export-dependent Malaysia, Southeast Asia's third-largest economy, was hit hard by the globa...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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