Malaysia's external trade breached 1 trillion ringgit (270.27 billion U.S. dollars) in the year 2006, a historical landmark in the country's trade history.

"Year 2006 is a major milestone in the history of Malaysia's external trade ... the value of total trade for 2006 was 1.069 trillion ringgit (288.919 billion U.S. dollars), 10.5 percent higher than the preceding year," the Department of Statistics said Friday.

Exports expanded by 10.3 percent to 588.949 billion ringgit ( 159.175 billion U.S. dollars) and imports rose by 10.7 percent to 480.493 billion ringgit (129.863 billion U.S. dollars), the department said in its latest release.

The higher exports were driven by diversification in both products and markets, coupled with strong external demand from Malaysia's major markets particularly the Association of Southeast Asian Nations (ASEAN), the United States and China.

Also on Friday, Minister of International Trade and Industry Rafidah Aziz hosted a press conference on Malaysia's Trade Performance in 2006.

"Malaysia is expected to continue to sustain the growth of its exports despite the forecast moderation in the expansion of the world's economy and world trade," said a cheerful Rafidah.

She noted the trade surplus for the year 2006, valued at 108.46 billion ringgit (29.313 billion U.S. dollars), was the highest ever recorded, up 8.7 percent compared with the year 2005.

Malaysia's leading trade partners for the year 2006 were the United States, Singapore, Japan, China and Thailand.

Source: Xinhua