Malaysia’s exports expand 4.1% in November, surpassing forecasts

[KUALA LUMPUR] Malaysia’s exports grew 4.1 per cent year on year (yoy) to RM126.6 billion (S$38.3 billion) in November, above expectations, driven by higher shipments of manufactured and agricultural goods, said the Department of Statistics Malaysia (DOSM) on Wednesday (Dec 18).

The final figure is much higher than economists’ forecasts of 1.3 per cent in a recent Reuters poll. This is the second consecutive month that the country’s exports have registered a growth, after seeing a decline of 0.3 per cent in September.

DOSM chief statistician Mohd Uzir Mahidin attributed the strong export performance to higher shipments of manufactured and agricultural goods, particularly electric and electronic products, machinery, equipment and parts, as well as palm oil and palm oil-based products.