Malaysia reported a marginal contraction of 0.8% in March export values to Euro 25.3 billion but remained in expansionary mode over the first quarter of the year. In a statement, the Ministry of Investment, Trade and Industry (Miti) said exports grew 2.2% during the first three months of 2024 to Euro 71 billion the back of higher shipments of manufactured and mining goods. "Exports of iron and steel products, machinery, equipment and parts, manufactures of metal, crude petroleum and liquefied natural gas (LNG) recorded notable increases," said the ministry. Major trading partners that recorded an uptick in trade values in March included China, which rose 2.9% y-o-y to Euro 7.6 billion after posting negative growth in the previous month. Total trade in March amounted to Euro 47.8 billion, representing a 5.1% increase y-o-y while the trade surplus halved over the year in March to Euro 2.5 billion. Trade with Asean countries rose a marginal 0.6% y-o-y to Euro 12.7 billion while total trade with the US expanded 6.9% y-o-y to Euro 4.7 billion. On imports, the value of Malaysia's inbound shipments expanded at a rate of 12.5% y-o-y to Euro 22.5 billion. The increase was underpinned by a 66.2% surge in capital goods to Euro 3.1 billion while intermediate goods rose 10.5% y-o-y to Euro 11.6 billion and consumption goods increased 1.2% to Euro 1.8 billion. The total inbound shipments from January-March 2024 rose 13.1% to Euro 64.3 billion over the same quarter in 2023. (ICE KUALA LUMPUR)

Fonte notizia: 24 maggio 2024, Kuala Lumpur