KUALA LUMPUR, Dec 4 ― Malaysia's exports in October surged 16.7 per cent from a year earlier, increasing for a fifth consecutive month, supported by demand for electrical and electronic products, government data showed today.
October's exports had the highest year-on-year growth since April 2014, more than twice the 7.9 per cent growth forecast by economists in a Reuters poll.
Imports were almost flat, down 0.4 per cent on lower imports of electronic integrated circuits. The poll expected a 4.3 per cent drop in imports following September's sharp rise of 9.6 per cent.
Malaysia's imports have slumped most months since the government implemented a 6 per cent Goods and Services Tax (GST) in April.
Malaysia's trade surplus rose to RM12.2 billion in October from 9.69 billion ringgit the previous month.
Exports to the EU increased 27 per cent due to demand for machinery parts, while the US saw a 30.5 per cent rise on exports of semiconductor devices and parts for scientific equipment. ― Reuters
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