Malaysia's Trade Surplus In May 2007 Up 34.6%

KUALA LUMPUR, July 4 (Bernama) -- Malaysia's trade surplus for May 2007 rose 34.6 per cent to RM7.89 billion from the previous month due largely to stronger export growth.The Statistics Department, in releasing the figures Wednesday, said total trade expanded by 5.5 per cent from the previous month to RM91.23 billion and was 3.1 per cent higher from May last year.Total exports for May 2007 also increased 7.4 per cent from the previous month to RM49.56 billion, the highest recorded in the past five months, it said in a statement.For the January-May 2007 period, total trade rose 2.8 per cent to RM432.87 billion from the same period last year, resulting in a trade surplus of RM34.81 billion, the department said.Accordingly, exports grew by 1.4 per cent to RM233.84 billion from the previous corresponding period, while imports gained 4.6 per cent to RM199.03 billion.The largest export revenue earner for May 2007 was electrical and electronic (E&E) products valued at RM2.25 billion or 44.9 per cent, followed by palm oil (RM2.76 billion or 5.6 per cent) and crude petroleum (RM2.63 billion or 5.3 per cent), the department said.Asean, the United States, the European Union (EU), Japan, China, Hong Kong and South Korea were the top export markets, accounting for 81.3 per cent of Malaysia's total exports for the same period.Asean absorbed 24.6 per cent of the country's total exports in May 2007 following higher exports of crude petroleum and E&E products, while exports to West Asia rose 3.4 per cent to RM1.84 billion with significant increases from Syria, Iran and the United Arab Emirates.Higher exports of crude petroleum, E&E products and LNG (liquefied natural gas) led to a 25.1 per cent surge in exports to Japan at RM5.01 billion, while exports to China expanded 11.3 per cent to RM3.99 billion with significant rise in palm oil and E&E products, according to the department.Major markets which recorded notable expansion in exports from January to May 2007 included China with an increase of 28.6 per cent, West Asia (20 per cent), India (13.2 per cent), South Korea (12.7 per cent), Taiwan (11.2 percent), the EU (10.1 per cent) and Japan (4.9 per cent).For imports, May 2007 saw intermediate goods valued at RM29.92 billion or 71.8 per cent, capital goods (RM5.85 billion or 14 per cent) and consumption goods (RM2.36 billion or 5.7 per cent), the department said.Major imports included E&E products at RM16.14 billion or 38.7 per cent, machinery, appliances and parts (RM3.83 billion or 9.2 per cent), and chemicals and chemical products (RM3.34 billion or eight per cent), it added.Asean was the top major source of import for Malaysia at an import value of RM10.38 billion or 24.9 per cent, followed by Japan (RM5.21 billion or 12.5 per cent) and the EU (RM5.07 billion or 12.2 per cent).Major imports for January to May 2007 increased by 4.6 per cent to RM199.03 billion, mainly attributed to higher imports of intermediate goods, the department said.For the same period, intermediate goods rose eight per cent to RM141.79 billion or 71.2 of total imports, capital goods gained 0.5 per cent to RM26.38 billion or 13.3 per cent of total imports, and consumption goods climbed 8.4 per cent to RM11.76 billion or 5.9 per cent of total imports.