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Malaysia's Nov exports surge 7.8% y-o-y, more than forecast
[KUALA LUMPUR] Malaysia's exports increased significantly in November, led by rising shipments of manufactured and agricultural goods, government data showed on Friday.
Exports in November expanded 7.8 per cent from a year earlier, faster than the 1.4 per cent increased forecast by a Reuters poll. In October, exports fell 8.6 per cent, the biggest drop in 18 months.
The rise in manufactured and agricultural goods exports were led by shipments of electrical and electronic products, and palm oil and palm-based goods, according to data from the International Trade and Industry Ministry.
Malaysia's imports in November also rose, by 11.2 per cent from a year earlier, following October's 6.6 per cent decline.
The trade surplus in November slightly narrowed to RM9.03 billion (S$2.89 billion), from RM9.8 billion the previous month.
Exports to the United States rose 9.9 per cent from a year earlier in November, while those to Europe gained 12.3 per cent.
Exports to China rose 12 per cent, due to higher demand for electrical and electronic products and palm-based goods.