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Financial News: Malaysia Exports Surge More Than Expected In August

Malaysia Exports Surge More Than Expected In August

10/06/2017 - 00:34:00 (RTTNews)

(RTTNews) - Malaysia's exports surged at a faster-than-expected pace in August, figures from the Department of Statistics showed Friday.

Exports jumped 21.5 percent year-over-year in August, faster than the 20.0 percent spike economists had expected.

Shipments of electrical and electronic products, which accounted for 37.8 percent of total exports, grew 20.1 percent annually in August.

Exports of refined petroleum products registered a marked growth of 35.5 percent.

Imports advanced 22.6 percent in August from a year ago, exceeding economists' forecast for a growth of 20.9 percent.

The increase in imports was attributed to intermediate goods, capital goods and consumption goods.

The visible trade surplus of the country rose to MYR 9.9 billion in August from MYR 8.7 billion in the corresponding month last year. The surplus was expected to rise to MYR 9.75 billion.

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