Malaysia's exports in January were their highest for that month in a decade at RM34.02 billion, helped by growing global demand, the government said today.

Total exports in January were down from RM38.71 billion in December but up 7.5 percent year-on-year.

January imports fell to 27.54 billion ringgit from 32.19 billion in December but rose 12 percent from a year earlier as the country bought more intermediate goods.

The trade surplus for the month came to RM6.48 billion, the Ministry of International Trade and Industry said, down from a revised surplus of RM6.53 billion in December and RM7.06 billion a year ago.

The overall trade performance in January was favorable, despite a slowdown in business activities due to the Lunar New Year holidays, the ministry said.

Export markets

The main export markets were the 10 countries of the Association of Southeast Asian Nations, the United States, the European Union, Japan, China and Hong Kong. Together they took 77 percent of Malaysia's exports.

"Following the recovery of the Japanese economy, an increase of 7.0 percent was recorded in exports to Japan to reach RM3.76 billion in January.

"The increase was due mainly to higher export of chemicals and chemical products, refined petroleum products, liquefied natural gas and petroleum products," the ministry said.

Exports to China, Malaysia's fourth largest export destination, grew by 28.3 percent to RM2.15 billion. - AFP