The country's 's trade surplus in April fell, hit by weaker oil exports but shipments to Asean held up well, the international trade ministry said today.

It said the April trade surplus slipped to RM5.77 billion from RM6.3 billion in March, as exports fell 4.0 percent to RM30.73 billion and imports declined 2.8 percent to RM24.96 billion.

The drop in exports reflected a decline in exports of crude petroleum, liquefied natural gas (LNG), refined petroleum products and electrical and electronic products.

Although the April figures showed a month-on-month decline, the ministry said the figures represented the 66th trade surplus since November 1987.

Sars effect

The Association of Southeast Asian Nations (Asean) remained Malaysia's largest export market, absorbing RM8.31 billion or 27 percent of total exports, an increase of 2.9 percent from March, the ministry said.

The ministry noted that in other markets -- Japan, Hong Kong, China and Middle East -- exports all fell from March.

It made no mention of any possible impact on exports from the Sars crisis in the region, which has been concentrated in China, Taiwan, Hong Kong and Singapore, all important trading partners for Malaysia.

The United States accounted for 17.2 percent of total exports, a decline of 4.3 percent, mainly due to lower exports of electrical and electronic products, chemicals and chemical products and palm oil.

Exports to the European Union, which accounted for 13.4 percent of total exports, were valued at RM4.11 billion, a 1.0 percent decline.

Leading products

For the period January-April 2003, Malaysia recorded a trade surplus of RM23.36 billion on exports of RM119.09 billion and imports of RM95.73 billion, the ministry said.

Imports of intermediate goods accounted for 72.3 percent, capital goods 13.8 percent and consumption goods 6.3 percent.

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

Electrical and electronics goods also accounted for 47.8 percent of total imports, followed by machinery and chemical products. -- AFP