The country's trade surplus rose 45 percent in January from a year earlier, boosted by a recovery in electrical and electronic exports to the United States, government statistics showed today.

The country logged a surplus of RM4.4 billion in January, marking the 51st consecutive monthly trade surplus since November 1997, the International Trade and Industry Ministry said in a statement.

The figure was down 10 percent from RM4.8 billion recorded in December.

"After two months of continuous decline, exports to USA in January increased by 4.4 percent to RM5.4 billion, due mainly to increase in exports of electrical and electronic products and palmoil," it said.

Electrical and electronic products contributed nearly 80 percent of Malaysia's exports to the US.

Exports to the Association of Southeast Asian Nations increased 18.4 percent to RM7.7 billion, while those to Japan rose nearly 10 percent to RM3.5 billion.

But exports to China fell 17.4 percent to RM1.3 billion, reversing an increase of 20 percent in December, as exports of palmoil, chemical and chemical products, and electrical and electronic products fell.

Growth predicted

Malaysia's total exports in January fell 2.1 percent year-on-year to RM27.5 billion but was up 4.4 percent from December. The electrical and electronics product segment was the top revenue earner, accounting for 56.7 percent.

Total imports fell about eight percent in January to RM23.10 billion, but was up seven percent from December.

Imports of intermediate and capital goods - mostly used in manufacturing exports and accounting for 86 percent of total imports - were up 12.9 percent.

The US, along with Singapore, Japan, Thailand and China, were the top five export destinations jointly accounting for 61 percent of total exports in January.

Last year, Malaysia's trade surplus dipped 13.1 percent to RM53.73 billion due to the effects of the US recession.

Prime Minister Dr Mahathir Mohamad, who is also finance minister, has predicted the economy would grow three percent this year, down from an earlier official forecast of a four to five percent expansion.

The premier said the economy was likely to have grown 0.5-1.0 percent in 2001, down from an earlier government projection of one to two percent. (AFP)