Malaysia Exports Jump Nearly 8% in November
KUALA LUMPUR: Malaysia's exports rebounded in November to RM72.83bil, which was an increase of 7.8% on-year, exceeding a forecast of a 2.5% increase, on higher exports of manufacturerd goods especially electrical and electronic (E&E) products.
The International Trade and Industry Ministry (MITI) said on Friday imports rose 11.1% to RM63.79bil, above the survey of a 2.9% increase.
Malaysia's trade surplus however slipped to RM9.03bil from RM10.17bil a year ago due to the higher-than-expected imports.
Total trade rose to RM136.62bil from RM124.95bil a year ago, making it the 229th conseuctive mnonth of trade surplus since November 1997.
MITI said the higher exports were due to robust demand from the major markets mainly from Asean, China, the EU, the US, Hong Kong and China.
MITI added exports of manufactured goods tose 7.9% to RM58.32bil and accounted for four-fifths of Malaysia exports.
“E&E exports expanded by 13.2%ot RM3.06bil, the fastest growth recorded thus far in 2016. Increases in exports were also recorded for chemicals and chemical products, transport equipment, processed food, iron and steel products,” it said.
MITI data showed Malaysia's exports in November also increased from October, up 5.25% from October's RM69.195bil
Imports also climbed to RM63.78bil from October's RM59.44bil, an increase of 7.73%.