Malaysia's export growth accelerated more-than-expected in May, official figures revealed Friday.
Total export of the country grew 16.3 percent year-on-year in May, the Department of Statistics said. This was the eleventh consecutive increase and exceeded the 15.2 percent growth forecast by economists.
Exports of manufactured goods expanded by 14.4 percent on a yearly basis in May and that of mining goods surged 30.6 percent. Exports of electrical and electronic products also grew by 12.4 percent, with a share of 32.7 percent of total exports.
At the same time, imports advanced by 11.9 percent annually in May, well above the economists' expectation for a 7.9 percent growth.
The trade surplus almost doubled to MYR 5.72 billion in May from last year. But the figure was smaller than the expected surplus of MYR 7.97 billion.
During five months to May, total exports and import grew by 13.5 percent and 6.7 percent, respectively. The trade surplus totaled MYR 40.79 billion.
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