Malaysia's Feb exports expand 6.7%, better than forecast

[KUALA LUMPUR] Malaysia's annual exports grew in February, rebounding from a slump the previous month, due to larger shipments of electrical and electronic products, government data showed on Wednesday.

Exports in February rose 6.7 per cent from a year earlier, more than double economists' expectations of 3.1 per cent growth. Exports in January declined 2.8 per cent from a year earlier, falling for the first time since May 2015.

Imports in February also rose 1.6 per cent from a year earlier, slowing down slightly from the previous month's pace of 3.3 per cent.

February's trade surplus rose to 7.35 billion ringgit (S$2.6 billion) compared with 5.39 billion ringgit in January.

Exports to the EU grew 11.3 per cent, while U.S. exports rose 21 per cent supported by higher exports of electrical and electronic products, particularly, photosensitive semi-conductor devices.

REUTERS