October exports up nearly 19% to RM82.41b, exceed forecast – Business News

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KUALA LUMPUR: Malaysian exports in October rose 18.9% to RM82.41bil, exceeding a Bloomberg forecast of a 17% increase, underpinned by an higher exports of electrical and electronic (E&E) products and petroleum products.

The Ministry of International Trade and Industry (MITI) said on Wednesday that exports had exceeded the RM80bil mark for the third time in 2017.

Imports rose by 20.9% to RM71.85bil, exceeding the forecast of a 20% increase.

“Trade surplus widened to RM10.56bil, the highest value since April 2016, making it the 240th consecutive month of trade surplus since November 1997.

“On a month-on-month (m-o-m) basis, total trade, exports and imports expanded by 4.3%, 5.3% and 3.2%, respectively,” it said.

Total trade for the first 10 months of 2017 amounted to RM1.465 trillion, expanding by 21.5% from the previous corresponding period.

Exports totalled RM772.66bil, an increase of 21.1% while imports stood at RM692.51bil, rose by 21.9%. 

Malaysia recorded a trade surplus of RM80.15bil, up 14.4% from a year ago.

 



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