Malaysia's Exports To South Asia Jump 6.9 Pct

By Shakir Husain NEW DELHI, Feb 8 (Bernama) -- Malaysia's exports to South Asia rebounded in 2016, helped by a strong growth in trade with Bangladesh, Pakistan and Sri Lanka. Total exports to South Asia grew 6.9 percent to US$10.22 billion (RM45.39 billion) last year against a 0.9 per cent decline in 2015, Malaysia External Trade Development Corporation (MATRADE) said Wednesday. (US$1 = RM4.44) Exports to India increased 1.1 per cent to RM32 billion, accounting for 70.5 per cent of Malaysia's exports to South Asia. Total trade with South Asian countries grew 7.4 per cent to RM63.8 billion in 2016, with imports increasing 8.6 per cent to RM18.4 billion. Manufactured goods made up 54.4 per cent of Malaysia's exports to India and rose eight per cent in value to RM17.43 billion. Bangladesh displaced Pakistan as Malaysia's second largest export destination in the region with exports to Bangladesh rising 32.2 per cent to RM5.15 billion in 2016 from RM3.9 billion in 2015. Higher exports of palm oil and palm-based agricultural products fuelled trade with Pakistan, which imported RM4.86 billion of Malaysian goods, representing a 17.8 per cent increase. Exports to Sri Lanka surged 28.6 per cent to RM2.42 billion due to a significant jump in the sale of petroleum products. MATRADE said Malaysia is witnessing a significant rise in trade with its new Free-Trade Agreement (FTA) partners, especially Turkey, India and Pakistan. -- BERNAMA