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Financial News: Malaysia Trade Surplus Exceeds Forecast

Malaysia Trade Surplus Exceeds Forecast

11/03/2017 - 00:40:00 (RTTNews)

(RTTNews) - Malaysia's foreign trade surplus increased more-than-expected in September from a year ago, figures from the Department of Statistics showed Friday.

The trade surplus rose to MYR 8.6 billion in September from MYR 7.71 billion in the corresponding month last year. Economists had expected the surplus to rise to MYR 8.45 billion.

However, it was lower than August's surplus of MYR 10.1 billion.

Exports logged a double-digit growth of 14.8 annually in September, but well below the 20.0 percent spike economists had expected.

Shipments of electrical and electronic products, which accounted for 39.4 percent of total exports, climbed 17.7 percent annually in September. Exports of refined petroleum products grew 13.2 percent.

Imports expanded 15.2 percent in September from year earlier, much slower than the expected growth of 20.0 percent. The growth was attributed to higher imports of intermediate goods, capital goods and consumption goods.

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