Subscribe in a reader | Subscribe by Email It was interesting to read the reports on March trade surplus. The Star projected a positive vibe, stating the surplus was higher if compared to corresponding month in 2007. However, MK put a negative note on the numbers, stating that the trade surplus is on the decline if compared to January and February 2008 values, and that imports grew 14.8% if compared to February. It did mention that exports grew 9.5% compared to February 2008, so that’s a bit of good news.
Both media highlighted MATRADE’s statement that natural resources supported the increase in trade surplus, even though electric/electronic products contributed 33.6% of the export value.
Its good to read both reports and different issues were revealed.
Malaysia’s March exports up 5.3% to RM51.57bil
KUALA LUMPUR: Malaysia’s exports in March rose 5.3% to RM51.57bil from a year ago, making its the highest export value recorded for the month of March.
According to the Malaysia External Trade Development Corporation (Matrade) on Tuesday, major product sectors which contributed to the higher exports were palm oil, crude petroleum, refined petroleum products, metal products and liquefied natural gas.
Electrical and electronic products accounted for RM17.53bil or 33.6% of total exports, palm oil exports (M4.69bil or 9.1%)and crude petroleum (M3.5b or 6.8%)
Matrade data showed exports to the United States fell to RM6.33bil compared with RM8.1bil a year ago, mainly due to a decline in electrical and electronic products.
“Imports rose 2.6% to RM43.59bil from RM42.46bil a year ago. The higher imports were mainly intermediate goods which rose 1.6%, capital goods by 20% while motor gasoline including aviation gas by 50.5%,” it said.
Based on the imports by end-use, intermediate goods accounted for RM31.39bil or 72% of total imports; capital goods (RM5.94bil or 13.6% of total imports) and consumption goods (RM2.46bil or 5.7% of total imports.
“A trade surplus of RM7.98bil was recorded in March 2008, making it the 125th consecutive month of monthly trade surplus since November 1997.
Mattrade said total trade in March 2008 amounted to RM95.16 billion, an increase of 4.1% from a year ago.
Total trade in the first quarter of 2008 was valued at RM276.56bil, up 8.4% from the first quarter of 2007. Exports increased by 9.8% to RM151.68bil, while imports grew by 6.7% to RM124.88bil, resulting in a trade surplus of RM26.8bil.
Trade surplus shrinks on US economy
May 6, 08 2:40pmhttp://malaysiakini.com/news/82405
Malaysia’s trade surplus continued to shrink in March as exports to this country’s top trading partner, the United States, fell in line with a weakening economy, figures released today showed.
The surplus in March hit RM7.98 billion, 22 percent higher from the same period last year on modest exports.
But the March trade surplus was down 12 percent from February and fell 17.9 percent from January due to a slowdown in exports of electronic and electrical goods to the United States.
Exports totalled RM51.57 billion, a 5.3 percent increase from March 2007 but rose 9.5 percent from February 2008.
“Major product sectors which contributed to the increase in exports were palm oil, crude petroleum, refined petroleum products, manufacturers of metal and liquefied natural gas,” the Ministry of International Trade and Industry said.
March imports expanded by 2.6 percent from last year to RM43.59 billion and were 14.8 percent higher against imports in February.
Malaysia’s exports to the United States, its main trading partner, fell to RM6.33 billion in March compared to RM1 8.1 billion in the same period last year on lower exports of electrical and electronic products, the ministry said.
Exports to the United States in February was RM6.04 billion down from RM7.17 billion in January.
Productivity up by 4.2%source
KUALA LUMPUR: Malaysia recorded 4.2% productivity growth last year, the highest since 2001, and marginally higher than that two years ago.
Malaysia’s productivity growth surpassed that of selected Organisation for Economic Cooperation and Development countries and Asian countries, including Britain, Japan, Australia, United States, Taiwan, Hong Kong and Thailand.
Malaysia ranked third behind China and India.
International Trade and Industry Minister Tan Sri Muhyiddin Yassin attributed the achievement to vibrant domestic business activities aided by the Government’s pro-business policies and productivity initiatives by industries.
The public sector grew by 3.6% in 2007, up from 3.4% in the previous year.
“The commitment of the civil service to serve the public more efficiently through implementation of various productivity and quality initiatives has resulted in progressive growth in service productivity,” Muhyiddin said yesterday in launching the Malaysia Productivity Corporation Report 2007.
Muhyiddin said the Special Taskforce to Facilitate Business (Permudah), established last year, had led to “substantial improvements” in the public service delivery system through an effective public-private sector partnership.
The private sector, however, needed to take up the necessary initiatives at the organisational and industry levels, invest in human capital to upgrade knowledge and skills, adopt best practices, and apply the necessary technology to achieve organisational excellence and higher added value, he said.
Muhyiddin said the country’s total factor productivity grew by 1.6% between 1998 and 2007 because of better education and training, high investment in research and development, and usage of new technology.
