Malaysia's exports surge again in April

KUALA LUMPUR • Malaysia's export growth swelled again in April, though at a slightly slower pace compared to the previous month, according to government data released yesterday.

April's exports rose 20.6 per cent from a year earlier, the fifth straight month of double-digit growth. The pace was down from 24.1 per cent in March.

Shipments of manufactured goods, which account for about four-fifths of total exports, grew by 17.3 per cent from a year earlier in April, data from the International Trade and Industry Ministry shows.

Exports of mining goods jumped 51.8 per cent on higher fuel prices and volumes, and shipments of agricultural goods, led by palm oil products, rose 20.9 per cent.

Imports in April rose 24.7 per cent from a year earlier, down from the 39.4 per cent growth in March, the highest annual increase in seven years.

The trade surplus in April widened to RM8.8 billion (S$2.9 billion), from RM5.4 billion in March. The ringgit has strengthened about 5 per cent against the US dollar this year.

Exports to China jumped 50.6 per cent from a year earlier, on higher demand for Malaysia's commodities, and electrical and electronic goods.

  • 20.6%

    Rise in Malaysia's April exports from a year earlier. The pace was down from 24.1 per cent in March.

Exports to the United States rose 11 per cent on higher shipments of electrical and electronic goods, while those to the European Union grew 26.5 per cent.

REUTERS

A version of this article appeared in the print edition of The Straits Times on June 06, 2017, with the headline 'Malaysia's exports surge again in April'. Print Edition | Subscribe