Although overall US imports have been declining, Malaysia’s exports to the US have surged, defying the general trend.
“While the overall trend suggests that US global trade had declined, Malaysia’s trade surged during the first two months of 2016, according to the US Department of Commerce,” the New York-based Malaysian Trade Commissioner, Muhd Shahrulmiza Zakaria, said in an interview with Bernama.
Malaysia’s exports to the US, according to Malaysia External Trade Development Corp’s (Matrade) office, posted a 6.9 per cent growth to US$5.1bn (US$1 at RM3.90) during the first two months of this year. The Commerce Department figures showed that total trade between US and Malaysia expanded in 2015 to US$46.1bn, up six per cent from US$43.5bn in 2014.
Malaysia’s exports to the US amounted to US$33.8bn, up 11.2 per cent from 2014 (at US$30.4bn). The country rose to become the 14th overall source of imports for the US.