Malaysia's December exports rise 16.9% above forecast

MALAYSIA’S exports rose 16.9 per cent in December, above market expectations, government data showed on Monday (Jan 20).

Exports had been expected to grow 8.8 per cent, according to a Reuters poll. Imports in December grew 11.9 per cent from a year earlier, data from the trade ministry showed, versus a 5.2 per cent increase expected by analysts.

Malaysia recorded a trade surplus of 19.2 billion ringgit (S$5.8 billion) in December, above the poll forecast of a 16.6 billion ringgit surplus.

For the full year 2024, exports rose 5.7 per cent from 2023 to 1.5 trillion ringgit while imports climbed 13.2 per cent to 1.37 trillion ringgit, the trade ministry said in a statement.

Exports to the US and Taiwan reached all-time highs, with Taiwan becoming Malaysia’s fourth-largest trading partner. REUTERS