Malaysia’s bi-lateral trade with Sri Lanka from January to July 2014, amounted to US$299.41 million, which is an increase of 31.1% compared to the same period in 2013. Exports amounted to US$445.71 million compared to US$308.73 million in 2013, an increase of 44.4%, while imports worth US$31.74 million recorded a decrease of 42.7%, compared to the same period in 2013, Malaysian High Commissioner to Sri Lanka Azmi Zainuddin said.
He made these sentiments addressing a seminar on “Bilateral Trade between Sri Lanka and Malaysia”, organized by the National Chamber of Commerce.
Zainuddin said “Sri Lanka is among Malaysia’s top export destinations within the South Asia region and one of Malaysia’s strategic trade partners. Since 1998, Sri Lanka has been one of Malaysia’s largest export destinations in the South Asian region. Among the South Asian countries, Sri Lanka was Malaysia’s 4th largest trading partner.
In 2012, Malaysia recorded a new trade high with Sri Lanka. However in 2013, we saw a slight drop in our exports.” Malaysia's exports to Sri Lanka decreased by 26.3% from US$ 779.27 million in 2012 to US$ 573.99 million in 2013. Nonetheless total Malaysia’s imports from Sri Lanka in 2013 increased by 9.7% to US$ 87.52 million. Main imports from Sri Lanka were Crude Natural Rubber (US$28.82 million),Textiles, Clothing and Footwear (US$22.00 million), Petroleum-based Products (US$15.06 million), Processed Food (US$6.44 million) and Rubber Products (US$3.98 million) . Main exports to Sri Lanka were petroleum products (US$148.33 million), chemical and chemical products (US$78.12 million).
From: Daily News. http://www.dailynews.lk/?q=business/lankas-trade-malaysia-surges
