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Financial News: Malaysia Trade Surplus Rises In October

Malaysia Trade Surplus Rises In October

12/05/2017 - 23:27:00 (RTTNews)

(RTTNews) - Malaysia's foreign trade surplus increased in October from a year ago, figures from the Department of Statistics showed Wednesday.

The trade surplus rose to MYR 10.6 billion in October from MYR 9.9 billion in the corresponding month last year. Meanwhile, economists had expected the surplus to drop to MYR 9.8 billion.

Exports grew 18.9 percent year-over-year in October, faster than the 17.3 percent growth economists had forecast.

Shipments of electrical and electronic products, which accounted for 37.7 percent of total exports, advanced 16.9 percent annually in October and exports of palm oil and palm oil-based products climbed by 11.3 percent.

Imports surged 20.9 percent in October from last year, just above the expected growth of 20.0 percent. This expansion was attributed to higher imports of intermediate goods, consumption goods and capital goods.

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