KUALA LUMPUR, July 5 (Bernama) -- Malaysia's total trade in May declined 4.1 per cent to RM108.28 billion from RM112.95 billion registered in the same month last year, said the International Trade and Industry Ministry (Miti).
The decrease in total trade was contributed mainly by lower trade with Japan which dropped RM1.45 billion, Indonesia (RM874.3 million), Qatar (RM831.3 million), Saudi Arabia (RM713.4 million) and Singapore (RM674.8 million).
Exports were valued at RM55.37 billion, down 5.8 per cent, when compared with May 2012, while imports decreased 2.3 per cent to RM52.91 billion for the month in review.
"The lower exports was due to reduced exports of crude petroleum, palm oil, iron and steel products as well as refined petroleum products," it said in a statement.
Exports of manufactured goods, with a share of 71.8 per cent of total exports, increased marginally by 0.1 per cent to RM39.77 billion in May.
The ministry said exports to Asean dipped 5.3 per cent to RM15.24 billion, accounting for 27.5 per cent of Malaysia's total exports in May.
Exports to Singapore grew 5.6 per cent to RM8.21 billion but offtake to Thailand declined 11.9 per cent to RM2.83 billion and to Indonesia, it decreased 13.4 per cent to RM2.11 billion.
Miti said the decrease was due to lower exports of crude petroleum, palm oil, iron and steel products.
Exports to Japan decreased 12 per cent to RM5.93 billion compared with a year ago, due mainly to lower exports of liquefied natural gas, palm oil and crude palm oil. Total imports in May decreased 2.3 per cent to RM52.91 billion from RM54.17 billion in May last year. Miti said of the three main categories, the import of intermediate goods decreased 59.7 per cent to RM31.58 billion, capital goods dropped 12.2 per cent to RM7.77 billion and consumption goods increased 6.6 per to RM4.71 billion.
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