Total Malaysian trade in rubber products rose five per cent in value to RM19 billion last year from RM18.1 million in 2011, with the US being Malaysia’s largest export destination for
rubber products.
Rubber products exports grew 2.4 per cent to RM14.5 billion last year from RM14.2 billion in 2011, while imports expanded by 14.4 per cent to RM4.5 billion from RM3.9 billion in 2011.
Malaysia’s trade surplus in rubber products were RM10 billion last year, a slight drop from RM10.3 billion in 2011.
Besides the US, Malaysia’s key trading partners for rubber
products last year were Thailand, China, Japan and Germany.
Among Malaysia’s top 10 trading partners in rubber products, Thailand and Indonesia recorded the highest expansion in trade last year, growing at 19.7 per cent and 14 per cent, respectively, year-on-year.
“Our promotional activities focusing on emerging markets had assisted in cushioning the effects of the economic slowdown in some of our traditional markets in the European Union and East Asia,” said Malaysian Rubber Export Promotion Council Chief Executive Officer Datuk Teo Suat Cheng.
Exports to the United States accounted for 27.8 per cent of Malaysia’s total exports of rubber products last year as compared with 26.2 per cent in 2011.
Exports increased by 8.5 per cent to RM4 billion from RM3.7 billion in 2011, led by a 8.6 per cent growth in exports of rubber gloves worth RM3.6 billion.
However, rubber products exports to traditional markets contracted year-on-year to the European Union by 3.5 per cent, East Asia by 1.5 per cent, Asean by 1.7 per cent, South America by 1.8 per cent and West Asia by 1.9 per cent.
Malaysia’s rubber products exports to East Asia shrank by 1.5 per cent to RM1.91 billion year-on-year last year.
Rubber gloves’ exports exceeded RM10 billion last year to hit RM10.6 billion from RM9.9 billon in 2011, reflecting a 6.8 per cent growth.
“Rubber gloves’ exports are set to grow as demand is expected to continue to rise even during slow growth period in the world economy,” Teo said.
The worth of Malaysia’s condoms’ exports rose 22 per cent to RM337 million from RM277 million in 2011.
As for general rubber goods, exports fell 11.6 per cent last year, primarily rubber sporting goods exports to Japan.
Dry rubber products that showed good export performance last year were conveyor belting and insulated cables and wire, which expanded 54 per cent and 21 per cent year-on-year, respectively.
“The increase was mainly due to exceptional increase in exports of these products to Hong Kong, Taiwan and Thailand,” Teo added.– Bernama
