Malaysia's exports grew at a faster-than-expected rate in March, figures from the Department of Statistics showed Friday.
Exports expanded 24.1 percent year-over-year in March, well above the 20.0 percent climb economists had expected.
Shipments of electrical and electronic products, which accounted for 35.4 percent of total exports, rose 21.2 percent annually in March. Exports of palm oil and palm oil-based products alone rose by 25.3 percent.
Imports jumped 39.4 percent yearly in March, exceeding economists' forecast for a growth of 28.6 percent. The expansion was attributed to higher imports of intermediate goods, capital goods and consumption goods.
As a result, the visible trade surplus of the country shrank to MYR 5.4 billion in March MYR 11.2 billion in the corresponding month last year. The expected surplus for the month was MYR 9.35 billion.
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