Malaysia’s exports and imports rise more than expected in March
The data showed that the country’s exports rose by 24.1% on an annual basis in March, which was faster than the economists’ forecasts of an increase of 20%. The largest contribution to the annual increase came from the shipments of palm oil and palm oil based products by 25.3% and from shipments of electrical and electronic products by 21.2%.
The country’s exports also increased by 15.1% in March on a monthly basis.
The data also showed that the country’s imports increased by 39.4% year-on-year in March, which was higher than the estimates which called for an increase of 28.6%. The largest contribution to the rise in imports in March was from intermediate goods, capital goods and consumption goods.
Imports were also up by 22.5% in March month-on-month.
The trade surplus of the country decreased to MYR 5.4 billion ($1.24 billion) in March from MYR 11.2 billion ($2.58 billion) in the same month of last year. The estimated surplus for the month was MYR 9.35 billion ($2.15 billion)
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