KUALA LUMPUR: Malaysia's exports rose more than expected in January from a year earlier, boosted by higher shipments of manufactured goods, the trade ministry said on Tuesday.
Exports rose 8.7 per cent from a year earlier to RM122.43 billion (US$25.56 billion), more than the 3 per cent growth estimated by 17 economists surveyed by Reuters.
Exports of manufactured goods, which accounted for 84.7 per cent of total shipments, improved by 9.3 per cent year-on-year, the trade ministry said in a statement.
"The export growth was boosted by higher shipments of petroleum products, machinery, equipment and parts, iron and steel products as well as manufactures of metal," the ministry said.
Exports of palm oil and palm oil-based agriculture products from the world's second-biggest producer increased by 16.3 per cent to RM6.15 billion, the ministry added.
Members of the Association of Southeast Asian Nations (ASEAN) accounted for 27.6 per cent of Malaysia's total trade, increasing to 17.4 per cent in January from a year earlier, with exports growing 9.5 per cent.
Malaysia's exports to the United States improved 11.9 per cent, while exports to the European Union were up 6.4 per cent. However, exports to China fell 7.6 per cent as a result of lower shipments of electrical and electronic goods.
Imports in January grew 18.8 per cent from a year earlier to 112.3 billion ringgit, data from the trade ministry showed, versus an 8 per cent increase expected in the Reuters poll.
Malaysia recorded a trade surplus of RM10.12 billion in January. - Reuters