Malaysia Exports Surge More Than Forecast In July

Malaysia’s exports grew at a faster-than-expected pace in July, figures from the Department of Statistics showed Wednesday.

Exports jumped 30.9 percent year-over-year in July, well above the 23.8 percent spike economists had expected.

Shipments of electrical and electronic products, which accounted for 35.5 percent of total exports, expanded 28.3 percent annually in July. Exports of refined petroleum products registered a marked growth of 85.4 percent.

Imports climbed 21.8 percent in July from a year go, much faster than the expected rise of 11.5 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 8.0 billion in July from MYR 2.1 billion in the corresponding month last year. That was in line with economists’ expectations.
Source: RTT News