February Exports Higher by 6.7%
Malaysia’s export growth in February 2016 rebounded by 6.7% or RM3.55 billion to RM56.72 billion, after posting a negative growth of 2.8% year-on-year in January 2016. Imports increased by 1.6% to RM49.37 billion from RM48.61 billion which recorded in February 2015.
Trade surplus widened to RM7.35 billion in February 2016 from RM5.39 billion in the previous month, making it the 220th consecutive month of trade surplus since November 1997.
Total trade rose 4.2% from a year ago to RM106.09 billion. Increases in trade were recorded with the United States of America (USA) which rose RM2.21 billion, ASEAN (↑RM1.9 billion), China (↑RM829.6 million), the Republic of Korea (ROK) (↑RM637.3 million), the European Union (EU) (↑RM447.7 million), Hong Kong (↑RM433.3 million) and Turkey (↑RM320 million).
During the first two months of 2016, total trade increased by 2% to RM224.4 billion from the corresponding period of 2015. Exports grew by 1.5% to RM118.57 billion while imports rose 2.5% to RM105.83 billion, resulting in a trade surplus of RM12.74 billion.
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Trade Performance : February 2016 and January - February 2016