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Financial News: Malaysia Exports Growth Accelerates In December

Malaysia Exports Growth Accelerates In December

01/29/2021 - 00:43:00 (RTTNews)

(RTTNews) - Malaysia's exports rose sharply in December, data from the Department of Statistics showed on Friday.

Exports rose 10.8 percent year-on-year in December, following a 4.6 percent increase in November. Economists had expected a 3.9 percent rise. At MYR 95.7 billion, exports reached its highest value recorded in 2020.

Imports grew 1.6 percent annually to MYR 75.0 billion in December, after a 9.0 percent fall in the previous month. Economists had forecast a fall of 4.8 percent.

The trade surplus totaled MYR 20.7 billion in December, which was above the expected level of MYR 12.7 billion.

On a monthly basis, exports rose 13.1 percent in December and imports increased 11.0 percent.

In the fourth quarter, exports surged 5.1 percent annually and rose 4.2 percent from the previous quarter. Imports contracted 4.5 percent yearly and accelerated 5.7 percent quarterly.

In 2020, exports declined 1.4 percent and imports decreased 6.3 percent.

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