Trade (Exim)

Exports of Manufactured Goods
The value of manufactured goods exported is estimated to increase substantially by 27.8% to RM 229.1 billion in 1998 (1997:12.7%). This is largely due to the positive impact of 28.33% depreciation in ringgit of Malaysia's exports are traded in US dollar. The growth in export value would have been higher if not for lower global prices of manufactured goods due to increased competition in the midst of a slowdown in global demand and excess production capacity. All categories of exports, except for wood and petroleum based products, record stronger ringgit export earning growth. Apart from higher export value generated by the traditional export-oriented industries, domestic-oriented industries are also recording higher export earnings. This is the result of more vigorous efforts by domestic-oriented industries recently to market their products overseas in order to offset the drop in domestic sales. Consequently, the total export receipts of the manufactured sector is estimated to account for 80.5% of Malaysia's overall export earnings in 1998.During the first seven month of 1998, the value of manufactured exports rose sharply by 43.6% (January-July 1997: 1.6%) to RM 133.3 billion or 81.9% of total gross exports.