Malaysia's trade surplus in November rose 13.0 percent year-on-year and 3.4 percent from the previous month to RM6.31 billion despite a slight dip in exports, government statistics showed today.

According to preliminary figures from the trade ministry, November marked the 73rd consecutive monthly surplus since November 1997. It said it had revised upwards October's surplus to 6.10 billion from six billion previously.

November's trade performance showed an improvement from October, where the surplus fell sharply by 17 percent to 7.36 billion in September.

The ministry said exports in November fell to RM33.24 billion from RM34.19 billion the previous month but it was still the second highest monthly exports for last year. Imports for the month also slide to RM26.93 billion, compared with RM28.09 billion in October.

The Association of Southeast Asian Nations (Asean), the United States, European Union, Japan, China and Hong Kong remained the top markets in November, jointly accounting for 80 percent of Malaysia's total exports.

Falling palm oil

Electrical and electronic products accounted for 53.5 percent of total exports in November and was up 2.2 percent to RM17.78 billion. But palm oil, which accounted for some five percent of total exports, fell 22 percent to RM1.75 billion, the ministry said.

Electrical and electronic products also led imports in November, accounting for 51 percent of total imports and rising 11 percent to RM13.73 billion.

For the 11 months to November, the trade surplus rose sharply by 47 percent year-on-year to RM68.91 billion, with total exports rising 5.5 percent to RM343.53 billion but imports falling 1.4 percent to RM274.62 billion.

Exports of palm oil, crude petroleum, liquefied natural gas, chemicals and chemical products and refined petroleum products registered increases exceeding 20 percent during the 11 months, the ministry said. - AFP