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Malaysia's August exports exceed forecasts at 21.5 percent

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Staff Writer | October 6, 2017
Malaysia's exports rose 21.5 percent year-on-year to 82.2 billion ringgit ($19.41 billion) in August, with electrical and electronic (E&E) exports and exports to China hit record high.
Malaysia exports
Asia   Higher uptake of petroleum products
Malaysia's External Trade Development Corporation, a national trade promotion agency under the Ministry of International Trade and Industry, said in a statement Friday that manufactured goods exports continued its upward trend in the month, expanding by 22.3 percent year-on-year, with E&E exports hitting a record high of 31.04 billion ringgit, a 20.1 percent year-on-year increase.

Meanwhile, exports for chemicals and chemical products increased by 15.7 percent, petroleum products 33.6 percent while liquefied natural gas jumped 101.8 percent.

Palm oil and palm oil-based agriculture products exports, however, declined 8.9 percent.

Malaysia's exports to China hit a record high, up 21.2 percent year-on-year to 11.3 billion ringgit, the highest monthly value ever recorded thus far.

The growth was due to higher uptake of petroleum products, manufactures of metal, chemicals and chemical products, E&E products and rubber products.