Malaysia’s foreign trade surplus increased in November from a year ago, figures from the Department of Statistics showed Friday.
The trade surplus rose to MYR 9.9 billion in November from MYR 9.1 billion in the corresponding month last year. Economists had expected the surplus to rise to MYR 10.9 billion.
Exports registered a double digit growth of 14.4 percent annually in November, almost in line with the 14.5 percent spike expected by economists.
Shipments of electrical and electronic products, which accounted for 38.0 percent of total exports, advanced 21.0 percent annually in November and exports of timber and timber-based products grew by 11.5 percent.
Imports surged 15.2 percent yearly in November, faster than the expected growth of 14.8 percent. This expansion was attributed to higher imports of intermediate goods, capital goods and consumption goods.
The material has been provided by InstaForex Company – www.instaforex.com
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