Malaysia’s exports and imports rise more than expected in Nov
The data showed that the country’s exports rose by 7.8% on an annual basis in November, which was larger than the economists’ forecasts of a 2.5% increase. Exports also increased by 5.2% in November on a monthly basis.
The data also showed that the country’s imports increased by 11.2% year-on-year in November, which was a lot higher than the estimates which called for an increase of 2.9%. Imports were also up by 7.3% in November month-on-month.
Data showed that shipments of electrical and electronical products increased by 13.2% in November on a yearly basis from 1.7% in October. The largest contribution to the rise in imports in November was from intermediate goods, capital goods and consumption goods.
Imports’ faster growth than exports caused the trade surplus of the country to decrease to MYR 9 billion in November from MYR 10.25 billion in October.
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