NEW YORK, Nov 13 — Malaysia’s exports to the US, riding high on the back of a strong US dollar and depreciated ringgit, surged in the first nine months of 2015, according to the New York-based office of the Malaysian External Trade Development Corp (Matrade).

Exports to the US in the first three quarters of the year jumped 12.9 per cent to RM53.25 billion while imports into Malaysia from the US posted a 2.9 per cent growth to RM40.29 billion.

The cumulative two-way trade of RM93.54 billion amounted to an 8.4 per cent rise over the year-earlier period.

September 2015 showed a continuation of this growth trend, with Malaysian exports surging 16.5 per cent.

Malaysia’s main exports include electronic and electrical products, which account for 57 per cent of total exports to the US, trade commissioner Muhd Shahrulmiza Zakaria told Bernama.

Rubber and rubber-based products account for 7 per cent of exports. Other major exports are textile and apparel (3.5 per cent share of exports), palm oil (3 per cent) and transport equipment (1.6 per cent).

Muhd Shahrulmiza said Malaysian businessmen visiting the US were excited about the prospect of the signing of the Trans-Pacific Partnership (TPP) which, they say, will provide a strong fillip to Malaysia’s exports.

“I personally believe the TPPA will open up the US market for Malaysian products and services,” he said. Muhd Shahrulmiza said Malaysian companies should be competitive and be ready to enter the US market. “The US is the largest of all the TPP member countries. A multilateral partnership agreement such as the TPP will be beneficial not just for the US but also for Malaysian companies,” he said. — Bernama