Malaysia's exports climbed unexpectedly in August from a year ago, figures from the Department of Statistics showed Friday.
Exports rose 1.9 percent year-over-year in August, defying economists' expectations for a decline of 2.3 percent.
Shipments of electrical and electronic products, which accounted for 38.2 percent of total exports, surged 18.8 percent in August from a year ago. Exports of palm oil and palm-based products grew by 17.2 percent.
Imports grew 4.9 percent annually in August, much faster than the 2.0 percent climb expected by economists. The expansion was attributed to higher imports of intermediate goods and consumption goods.
On a monthly basis, both exports and imports increased by 12.9 percent and 1.9 percent, respectively in August.
The visible trade surplus of the country shrank to MYR 8.5 billion in August from MYR 10.2 billion in the corresponding month last year. The expected surplus for the month was MYR 6.6 billion.
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