KUALA LUMPUR, Oct 7, 2015:
Malaysia’s exports in August rose 4.1% from a year earlier thanks to rising shipments to Singapore, China and the US.
The August figures were up from July’s 3.5% increase, supported by higher exports of electrical and electronic products, and beat economists forecast of a 2% rise.
Imports, however, declined 6.1% on slowing demand for intermediate and capital goods, and undershot economists’ expectations of a 1.6% increase.
Malaysia’s imports have slowed since the government implemented a consumption-based Goods and Services Tax (GST) in April, despite a surprise jump of 5.9% in July.
While total trade of RM122.86 billion in August 2015 was a drop of 0.8% from a year ago, this was the 214th consecutive month of trade surplus since November 1997, the Ministry of International Trade and Industry said in a statement today.
The trade surplus rose to RM10.19 billion in August from RM2.38 billion in July.
Exports to China and the US increased by 32.4% and 12% respectively on the back of rising demand for electrical and electronic goods.