Kuala Lumpur, June 7 (IANS) Malaysia’s exports recorded a 3.3 percent drop in April, mainly due to decreased exports to its major trading partner like China and Japan, according to the external trade figure released Friday.
The total exports in April stood at 55.81 billion ringgit ($18.12 billion), a 3.3 percent decrease compared with April 2012, reported Xinhua.
“The lower exports in April 2013 was mainly due to reduced exports of crude petroleum, electrical and electronic products primarily electronic integrated circuits as well as petroleum products,” the International Trade and Industry Ministry said in a statement.
Among Malaysia’s major trading partners, exports to China was down by 13.4 percent in April to 7.02 billion ringgit, while exports to Japan and the European Union recorded 5.9 percent and 2.9 percent drop respectively, offsetting the country’s 1.5 percent increase in exports to other ASEAN countries.
Total imports in April grew by 9.2 percent to 54.87 billion ringgit, fostering a 2.5 percent increase in total trade year-on-year to 110.67 billion ringgit.
In the first four months in 2013, Malaysia’s total trade was valued at 433.26 billion ringgit, a 1.8 percent increase compared with corresponding period in 2012. Exports declined by 2.7 percent to 225.28 billion ringgit while imports expanded by 7.1 percent to 207.98 billion ringgit.