Latest news with #imports
Malay Mail
2 hours ago
- Business
- Malay Mail
Malaysia's trade hits RM252b in May, powered by E&E exports, says Miti
KUALA LUMPUR, June 20 — Malaysia's trade increased by 2.6 per cent in May 2025 to reach RM252.48 billion, marking the 17th consecutive month of year-on-year growth since January 2024, said the Ministry of Investment, Trade and Industry. In a statement today, it said exports recorded a slight decrease of 1.1 per cent to RM126.62 billion, while imports grew 6.6 per cent to RM125.86 billion. Trade surplus for the month stood at RM766.3 million, maintaining a trade surplus for the 61st consecutive month since May 2020. The ministry noted that exports of electrical and electronics (E&E) products continued to show resilient performance, registering an increase of nearly RM4 billion — consistent with the World Semiconductor Trade Statistics forecast of an 11.2 per cent increase in global semiconductor sales in 2025. 'As a key player in the global semiconductor supply chain, Malaysia stands to benefit significantly from this anticipated expansion. 'Nevertheless, potential challenges remain, notably the uncertainties in global economic conditions. While the sector's outlook remains positive, proactive policy responses will be crucial to sustain this growth momentum,' it said. According to Miti, trade, exports and imports achieved their highest cumulative value on record for the January to May 2025 period, with trade growing 6.2 per cent to RM1.23 trillion compared to the corresponding period in 2024. Exports expanded 5.5 per cent to RM638.48 billion and imports rose 6.9 per cent to RM591.54 billion, while the trade surplus slipped 9.4 per cent to RM46.94 billion. The ministry noted that exports to key trading partners, including the United States and the European Union recorded robust growth, while exports to Taiwan not only expanded but also attained a new record high. 'Exports to Free Trade Agreement (FTA) partners, notably the United Kingdom and New Zealand also recorded increases, primarily due to higher shipments of palm oil-based manufactured products,' it added. — Bernama
Bloomberg
8 hours ago
- Business
- Bloomberg
Diesel Passes $105 a Barrel on Mideast Worry and Key Spreads Rip
By and Alex Longley Save Diesel soared for a fifth day — topping the equivalent of $105 a barrel in Europe — with spreads that traders view as measures of market strength spiraling higher. Concern about imports from the Middle East, where Israel's conflict with Iran is roiling wider oil markets, is compounding what was already a tight market. Europe has become increasingly reliant on the region's fuel since losing Russian supply.
CBC
10 hours ago
- Business
- CBC
Imports and exports up at Port of Halifax last quarter: report
These are busy days at the Port of Halifax. Amid uncertainty around tariffs, first quarter exports are up 13 per cent, while imports are also up almost 24 per cent. Watch Tom Murphy's interview with Paul MacIssac of the Halifax Port Authority.
Reuters
a day ago
- Business
- Reuters
Asia's only LNG bright spot may be about to get red hot
LITTLETON, Colorado, June 19 (Reuters) - Imports of LNG into Asia have contracted by a record amount during the first half of 2025, as slowing economic growth and trade tensions with the United States cooled demand for the super-chilled fuel. The only exception in Asia so far in 2025 has been Taiwan, which luckily for liquefied natural gas exporters is primed to substantially lift its gas dependence following the closure of its last remaining nuclear reactor last month. Indeed, forecasts for a stretch of above-normal temperatures this summer have the potential to sharply raise Taiwan's thermal power needs over the coming months, and may set the stage for a fresh rise in LNG orders by Taiwan's power producers. During the first half of 2025, all major LNG importers in Asia aside from Taiwan reduced LNG purchases from the same period a year ago, data from commodities data firm Kpler shows. As Asia imports roughly two-thirds of all LNG supplies, this widespread demand downturn in such a key region has placed several LNG exporters under strain, and has led to a 16% fall in Asia LNG spot prices so far this year. Five of the six largest LNG importers so far in 2025 are in Asia: Japan, China, South Korea, India and Taiwan. Between them, those countries have registered a collective 16 million metric ton drop in LNG imports during the first half of the year compared to the same months in 2024. Taiwan, which ranks sixth in LNG orders so far in 2025, has notched up a modest 100,000 ton increase in LNG orders from a year ago, Kpler data shows. But there are reasons Taiwan's appetite for LNG could climb further in the months ahead. The main driver of gas demand potential is the need for power firms to replace the power lost from the recent closure of Taiwan's last remaining nuclear reactor. Unit two of the Maanshan nuclear reactor was disconnected from Taiwan's grid around the middle of last month, which marked the end of a 40-year run for nuclear power in Taiwan. Power firms have been planning for the nuclear shutdown for months, and steadily reduced nuclear-powered electricity generation accordingly from around 1 terawatt hour (TWh) per month in 2024 to around 0.7 TWh in April, Ember data shows. As Taiwan's gas-fired power plants generate roughly 10 TWh a month and coal plants around 7.5 TWh a month, power firms have so far been able to accommodate the nuclear cuts with ease. The country's growing output from solar farms - which generate around 1.5 TWh of electricity a month over the summer - have also helped offset some of the loss of nuclear generation. Going forward, however, Taiwan's utilities will likely need to increase generation from all available resources in order to meet system demand needs, which tend to rise sharply over the summer due to higher cooling demand. Between 2022 and 2024, Taiwan's total electricity demand increased by an average of 23% between April and July, from around 22.4 TWh a month to 27.4 TWh a month, Ember data shows. With nuclear plants now out of the equation, natural gas and coal plants will need to provide most of that additional power, and already account for around 46% and 35% respectively of total electricity supplies. The challenge this year is that total demand could potentially rise by more than expected due to forecasts for a sustained stretch of above-normal temperatures this summer. Between now and the end of September, temperatures are expected to average around 28.4 degrees Celsius (83.1 degrees Fahrenheit) in Taipei, according to forecasts from LSEG. That forecast is around 5% more than the long-term average for that period, and indicates a likely sustained bout of strong air conditioner use across Taiwan. That in turn suggests that Taiwan's coal and gas plants could face a spate of above-normal capacity utilisation which may result in a speedier-than-normal draw on gas and coal inventories. That's good news for LNG exporters, who have been consistently disappointed by demand in Asia so far this year but may now be on the cusp of period of Taiwan-driven stronger interest in the region. The opinions expressed here are those of the author, a columnist for Reuters. Enjoying this column? Check out Reuters Open Interest (ROI), your essential new source for global financial commentary. ROI delivers thought-provoking, data-driven analysis of everything from swap rates to soybeans. Markets are moving faster than ever. ROI can help you keep up. Follow ROI on LinkedIn, opens new tab and X, opens new tab.
Bloomberg
a day ago
- Health
- Bloomberg
US Plans Texas Facility to Stop Flesh-Eating Cattle Pest
The US Department of Agriculture announced a plan to open an $8.5 million facility in South Texas to combat the spread of the New World screwworm, a flesh-eating bug that is deadly to cattle. The facility, expected to be completed by year's end, will release sterile screwworms in Northern Mexico to prevent it spreading near the US border. The screwworm, which eats its host from the inside out and is capable of killing a full-grown steer in just 10 days, has prompted the US to halt imports of cattle from Mexico, aggravating a domestic shortage that has sent prices of slaughter-weight livestock to a record this year.
