Malaysia’s September exports rise 54.5% on year, fastest in more than five years

[KUALA LUMPUR] Malaysia’s exports jumped 54.5 per cent from a year earlier in September, the fastest pace in more than five years, government data showed on Monday (Oct 19).

Export growth in September was higher than the 44.6 per cent rise forecast by economists polled by Reuters, and the quickest since April 2021, when shipments rose 63 per cent, according to LSEG data.

Malaysia, which has emerged as South-east Asia’s fastest-growing data centre market, has benefited from a boom in artificial intelligence infrastructure that has spurred global demand for its tech products and semiconductors

September’s export growth was driven by rising shipments of electrical and electronic goods, petroleum products, optical and scientific equipment, and machinery, data from the statistics department and trade ministry showed.

Agricultural exports, however, were down 5.7 per cent in September, amid declining shipments of palm oil and palm oil-based products, the data showed

Imports in September grew 52.7 per cent from a year earlier, higher than the 43.2 per cent rise forecast by analysts

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Malaysia recorded a trade surplus of RM33.7 billion (US$8.26 billion) in September, compared to the poll forecast of RM30.2 billion. REUTERS