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Financial News: Malaysia Exports Rise In September

Malaysia Exports Rise In September

10/28/2020 - 02:39:00 (RTTNews)

(RTTNews) - Malaysia's exports rose at a faster than expected rate in September, data from the Department of Statistics showed on Wednesday.

Exports rose 13.6 percent year-on-year to MYR 88.9 billion in September, after a 2.9 percent decrease in August. Economists had expected a 5.5 percent rise.

Imports declined 3.6 percent annually to MYR 67.0 billion in September, following a 6.5 percent fall in the previous month. Economists had forecast a fall of 3.8 percent.

The trade surplus totaled MYR 22.0 billion in September, which was above the expected level of MYR 13.9 billion.

On a monthly basis, exports rose 12.4 percent in September and imports increased 1.6 percent.

Separate data from the statistical office showed that the producer prices fell 3.9 percent yearly in September, following a 2.8 percent decline in August.

Prices for mining declined the most by 43.2 percent annually in September. Prices for manufacturing and, electricity and gas supply fell 1.3 percent and 0.9 percent, respectively.

On a monthly basis, producer prices fell 0.5 percent in September, after a 1.0 percent rise in the previous month.

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