Textiles & clothing exports to UK books major growth in '05

16 Mar '06

2 min read

Ministry of International Trade and Industry reported the business relation with UK.

In 2005, Malaysia's major exports to the UK were:
- E&E, valued at £951.6 million (US$1.21 billion);
- wood products - £167.3 million (US$212.2 million);
- Manufactures of plastics - £146.7 million (US$186.1 million);
- transport equipment - £104.3 million (US$132.3 million);
- textiles and clothing - £94.3 million (US$119.6 million).

The Malaysian economy in 2005:
- GDP
- grew by 5.3 percent (first three quarters of 2005)
- Manufacturing sector
- accounted for 31.5 percent of GDP
- Manufactured exports
- accounted for 81.9 percent of Malaysia's total exports

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Services
- fastest growing sector in 2005 contributed the largest share of GDP, at 53.3 percent

Forecast 2006
- The Malaysian economy is expected to maintain its growth momentum
- broad-based growth with expansion in all sectors
- growth driven by private investment spending and strong activities in the services sector

Malaysia's economic fundamentals in 2005:
- Gross national savings - 36.4 percent of GNP
- Inflation rate - 2.8 percent
- Unemployment rate - 3.5 percent
- International reserves - £39.9billion (US$71.1 billion) (as at 31 December 2005)
- Total exports - £79.7billion (US$142.2 billion)
- Manufactured exports- £65.3billion (US$116.4 billion)
- Trade surplus - £14.7billion US$26.8 billion in
- 2005, a surplus - for the 98th consecutive month, beginning November 1997

Un-pegging of Malaysian Ringgit:
- The Ringgit has maintained its strength and stability since its pegging to the US Dollar was removed in July 2005.

- Stability of the Ringgit contributed to strong performance of the Malaysian economy.

Ministry of International Trade and Industry

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