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Malaysia September Exports Rise 2% From a Year Earlier
calendar07-11-2014 | linkNASDAQ | Share This Post:

07/11/2014 (NASDAQ) - Malaysian exports in September rose 2.0% from a year earlier, official data showed Friday, driven mainly by demand for electronics and palm oil.

A Wall Street Journal poll of seven economists expected median export growth of 2.7% from a year earlier. In August, exports rose 1.7% from a year earlier.

Total exports rose to 64.52 billion ringgit ($19.30 billion) in September from 63.28 billion ringgit a year earlier, the Ministry of International Trade and Industries said in a statement.

Exports to the U.S. surged 16%, while shipments to China and Japan fell 8.5% and 1.7% respectively. Key electrical and electronics products, which make up about a third of total exports, grew 5.3% from a year earlier to 22.96 billion ringgit, while palm-oil shipments increased 16%.

Imports in September climbed 1.1% to 54.6 billion ringgit from a year earlier, the ministry said. Economists expected a median rise of 8.9%.

Import growth was mainly due to an increase for intermediate goods--unfinished parts such as circuit boards and automotive components used in final assembly of computers and cars--which rose 11% from a year earlier. Capital goods fell 19.3% while consumption goods dropped 1.0%.

Malaysia's trade surplus widened to 9.33 billion ringgit from August' s surplus of 3.86 billion ringgit.