Malaysia's exports climbed at a faster-than-expected pace in July, while imports rose unexpectedly, figures from the Department of Statistics showed Friday.
Exports grew 3.5 percent year-over-year in July, exceeding economists' expectations for a 3.2 percent rise.
Shipments of electrical and electronics products, contributing 36.5 percent to total exports, increased 12.1 percent in July from a year ago and that for timber and timber-based products also gained by 14.1 percent. Meanwhile, exports of refined petroleum products tumbled by 48.7 percent.
Imports rose notably by 5.9 percent annually in July, in contrast to a 0.8 percent decline expected by economists. The growth in imports was contributed by intermediate goods, consumption goods and capital goods.
The visible trade surplus of the came in at MYR 2.4 billion in July, declined by 34.5 percent from last year. In June the trade surplus totaled MYR 8.0 billion. The expected surplus was MYR 6.3 billion.
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