The country's trade surplus dived 22.2 percent in February to RM4.9 billion, the government said attributing it to seasonal factors.

The result was down from RM6.3 billion in the previous month, the Ministry of International Trade and Industry (MITI) said in a statement yesterday.

Exports fell 14.8 percent in February to RM25.9 billion, while imports declined 13.1 percent to RM21 billion.

The MITI said the value of trade is traditionally lower in February due to fewer working days in that month.

Asean remains major market

In February 2002, the trade surplus was RM3.61 billion, with exports of RM24.03 billion and imports of RM20.42 billion.

Electrical and electronic product exports totaled RM13.1 billion or 50.8 percent of the total in February, 2003.

The Association of Southeast Asian Nations (Asean) remained Malaysia's major export market, accounting for 26.6 percent of total exports, followed by the United States, the European Union, Japan, Hong Kong and China.

Asean, Japan, US, China, Korea, Germany and Taiwan were the largest source of imports.

Imports of electrical and electronic goods totalled RM10 billion representing 47.9 percent of total imports.

Electrical products

Imports of intermediate goods accounted for 72.8 percent, capital goods 14 percent and consumption goods six percent.

For the first two months of 2003, Malaysia recorded a trade surplus of RM11.2 billion, with exports of RM56.3 billion and imports of RM45.1 billion.

During the period, exports were led by electrical products, accounting for 50.4 percent of total exports, followed by palm oil and chemical products.

Electrical and electronics goods also accounted for 47.4 percent of total imports, followed by machinery and chemicals products.

Intermediate goods imports accounted for 72.3 percent of total imports in the two months to February, capital goods representing 13.8 percent and consumption goods 6.4 percent. AFP