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Malaysia’s imports, exports rise on year in November

by ChemOrbis Editorial Team - content@chemorbis.com
  • 07/01/2016 (13:16)
According to media reports, Malaysia’s Statistics Department reported that the country’s November imports climbed 9.1% on the year to MYR57.4 billion ($13.3 billion) after declining 0.4% to MYR63.7 billion in the previous month. Malaysia’s November exports also rose 6.3% on the year to MYR 67.6 billion ($15.7 billion) following an increase of 16.7% to MYR75.8 billion in October.

Increased purchases of intermediate, capital and consumption goods were cited as the main reasons for higher imports while larger exports were attributed to stronger sales of electronic goods and palm oil-based products as well as refined petroleum and timber-based items.

The Statistics Department’s data shows that the country main import partners are China, South Korea, Singapore, Indonesia and the US while the top destinations for Malaysian exports are the US, the European Union, China, Taiwan and South Korea.
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