Malaysia's July exports unexpectedly rise 3.1% y-o-y, beats forecast

[KUALA LUMPUR] Malaysia's exports rose for the second straight month in July, expanding 3.1 per cent from a year earlier on higher shipments of manufactured goods and agricultural commodities, particularly palm oil, government data showed on Friday.

The expansion beat a 1.2 per cent drop forecast by analysts in a Reuters poll, though it was slower than the 8.8 per cent jump recorded in June.

Imports in July shrank by 8.7 per cent from a year earlier, faster than the 5.6 per cent decline recorded in the prior month, data from the International Trade and Industry Ministry showed. Analysts had expected a fall of 5.5 per cent.

Malaysia's trade surplus widened to a historical high of RM25.15 billion (S$8.22 billion) last month, beating the previous record of RM20.9 billion in June.

REUTERS