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Malaysia’s 2017 exports to Thailand until October,

Malaysia’s 2017 exports to Thailand until October,

BANGKOK:  Malaysia’s exports to Thailand from January to October this year increased 16.4 per cent to RM41.91 billion from RM32.26 billion in the same corresponding period last year.

Malaysia External Trade Development Corporation (Matrade) trade counsellor in Thailand, Norman Dzulkarnain Mohd Nasri, said electrical and electronics (E&E) products were Malaysia’s largest export to the Kingdom during the period, accounting for 32.8 per cent, followed by crude petroleum (13.2 per cent).

Chemical and chemical products were the third largest export to Thailand constituting 10.6 per cent while machinery, appliances and parts contributed 6.1 per cent, manufactures of metal (4.8 per cent), and followed by other sectors, he told Bernama recently.

Nine Malaysian companies participated in the MATRAD organised programme.

Norman Dzulkarnain said Malaysia’s imports from Thailand for the January to October 2017 period had also increased by 15.7 per cent to RM39.92 billion from RM34.49 billion in the same period last year.

The E&E products remained Malaysia’s biggest import from Thailand, accounting for 28.8 per cent, followed by transport equipment (13.3 per cent), chemical and chemical products (10.3 per cent), machinery, equipment and parts (9.6 per cent) and natural rubber (7.6 per cent).

“Imports are mainly due to the market demand from Malaysian companies in the E&E and automotive sectors. Thailand remains an important player in E&E related products and automotive sectors in the Asean region,” he said.

The total trade between the two neighbouring countries from January to October this year grew 16 per cent to RM81.82 billion from RM70.51 billion during the same period last year, he said, while the total trade last year amounted to RM86.4 billion.

“Trade balance between Malaysia and Thailand has been in Malaysia’s favour for the past years. Thailand still remains Malaysia’s fifth largest trading partner after China, Singapore, the United States and Japan.”

Border trade had also contributed to the strong exports and imports between the two countries, he added.

On the go export network session, Norman Dzulkarnain said the event was part of continued efforts by the government to bridge businesses in the spirit of the ASEAN Economic Community.