Malaysia’s exports up 18.9% in October on higher demand for E&E products
KUALA LUMPUR: Malaysia’s exports saw a stronger year-on-year growth of 18.9% to RM69.3 billion for October 2017, driven by higher demand for electronics and electrical (E&E) as well as crude petroleum products.
On a month-on-month basis, exports increased RM4.2 billion or 5.3% from RM78.3 billion.
The strong export performance in October 2017 was underpinned by higher exports across major sectors namely E&E products (+16.9%), petroleum products (+21.4%), chemicals and chemical products (+17.5%) as well as palm oil and palm-oil based agriculture products (+7.9%).
Total trade in October 2017 increased 19.8% to RM154.3 billion compared with the same month last year.
Meanwhile, a trade surplus of RM10.6 billion was recorded in October 2017, rising RM678.3 million or 6.9% from RM9.9 billion registered a year ago. It also increased RM2.0 billion or 22.7% when compared to the previous month.