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EU market props textile & apparel exports

16 Sep '06
3 min read

The Malaysia International Trade and Industry (MITI) Report 2005 is the 14th issue since 1993. Through this publication, MITI provides an update on the developments in trade and industry, both at the national and international levels, for the general public, and in particular, the private sector.

In 2005, Malaysia continued to record an expansion of total trade, which increased by 9.9 per cent from 2004 to reach RM967.8 billion.

Malaysia also registered trade surpluses for the eighth consecutive year since November 1997, with a record trade balance of RM99.8 billion for 2005.

In 2005, Malaysia was ranked the world's 19th largest exporter, and 24th largest importer. Exports grew by 11 per cent to reach RM534 billion in 2005, compared with RM481 billion in 2004. The export growth was higher than the growth of world merchandise exports of 6.5 per cent, estimated by the WTO. Imports increased by 8.5 per cent to RM434 billion, from RM400 billion in 2004.

Malaysia's total trade with ASEAN continued to expand, growing by 13.8 per cent to RM246 billion in 2005, compared with RM216 billion in 2004. Significant growth in trade was also recorded with non-traditional trading partners, in particular, West Asia, which expanded by 23.1 per cent, Latin America (23 per cent), Africa (20.7 per cent), and South Asia (16.3 per cent). For China, total trade expanded by 19.1 per cent.

In respect of exports of textiles and apparel, the removal of quotas under the Agreement of Textiles and Clothing in January 2005 did not adversely affect the export performance of the products.

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