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Latest News
The Rising Importance Of Emerging Markets
 
News From : DagangHalal.com (6/21/2010)

KUALA LUMPUR, June 21 (Bernama) - The share of Malaysian exports to emerging markets had risen over the decade from 18.1 per cent in 2000 to 36.7 per cent in 2009.


Exports to emerging markets had expanded to RM203 billion in 2009 from RM67.5 billion in 2000, says the Ministry of International Trade and Industry (MITI) in the 2009 International Trade and Industry Report released here on Monday.


It says emerging economies constituted about 80 per cent of the world's population and contributed more than 20 per cent to the global economy.


For instance, China opened up its economy to Malaysia's exports in the last decade.


Total trade between both countries increased at a compounded average annual rate of 21.7 per cent and China became Malaysia's second largest export destination in 2009 compared with 10th position in 2000.


Exports to China accounted for 12.2 per cent of Malaysia's total exports in 2009 compared with 3.1 per cent in 2000, the report says.


Besides Malaysian products, China is also a potential market for Malaysian services with companies such as Parkson, England Optical and Nelcon having made inroads into the republic.


Education, port construction and management, infrastructure development and water treatment are other services that Malaysian companies have supplied to China, the reports says.


As for India, Malaysia's exports to the republic had expanded to RM17 billion in 2009, from RM7.3 billion in 2000, with the composition shifting from mainly commodity-driven to a mixture of manufactured exports and commodities.


Crude petroleum was Malaysia's largest exports to India followed by electrical & electronics (E&E) and palm oil products.


Malaysian companies have also gained a strong foothold in the services sector especially in infrastructure and construction, telecommunications and property development.


For example, Malaysian companies in the construction sector have completed 52 projects worth RM7.8 billion, the report says.


As for West Asia which comprised 15 countries, Malaysia's exports to the region rose to RM23.1 billion in 2009 from RM7.3 billion in 2000.


MITI also says Malaysian service providers were given the opportunity to undertake various construction projects involving architecture, project management, structural work and facilities management.


United Arab Emirates (UAE) was Malaysia's primary trading partner in West Asia, accounting for more than 40 per cent of Malaysia's exports to the region.


Meanwhile, Russia was Malaysia's largest trading partner within Eastern Europe, accounting for 51.9 per cent of the country's trade to the region.


Russia was the 33rd largest export destination for Malaysia from 48th position in 2000 with exports increasing to RM1.9 billion in 2009 from RM282 million in 2000.


Major exports to Russia include palm oil, E&E, processed food, plastic and rubber products.


As for Latin America, Malaysia's exports to the region increased to RM9.1 billion in 2009 from RM5.6 billion in 2000 with the top three export products being E&E, rubber products, textile and clothings.


Mexico is Malaysia's largest export market in Latin America followed by Brazil. Other significant export markets were Argentina, Panama, Colombia, Chile and Peru.


-- BERNAMA

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