Malaysia’s trade turnover soars in 2017

Malaysia recorded 1.62 trillion MYR (about 410 billion USD) in trade turnover in the first 11 months of 2017 (Source: www.thestar.com.my)   Kuala Lumpur (VNA) – Malaysia recorded 1.62 trillion MYR (about 410 billion USD) in trade turnover in the first 11 months of 2017, much higher than the sum of 1.49 trillion MYR in 2016, said Second International Trade and Industry Minister Ong Ka Chuan on January 18. According to the Minister, the country’s exports hit 856 billion MYR, a rise of 20.4 percent year-on-year whilst imports increased 21.2 percent to 766 billion MYR. Malaysia enjoyed a trade surplus of nearly 90 billion MYR in the period. Malaysia’s leading export and import markets include ASEAN countries, China, the European Union, the United States and Japan. The country shipped electricity, electronic devices, oil and gas products, chemicals, palm oil, equipment and components to those markets. It imported machinery, equipment, steel and chemicals. Statistics of the Vietnamese Trade Office in Malaysia showed that two-way trade in January-November of 2017 hit 9.15 billion USD, up 21.02 percent against the previous year. Of the figure, Vietnam’s exports to Malaysia hit 3.92 billion USD, rising 31.15 percent, while its imports were worth 5.24 billion USD, up 14.39 percent.-VNA

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