Malaysia’s Feb exports jump 17.6% y/y, beat forecast

KUALA LUMPUR: Malaysia’s exports in February rose 17.6% from a year earlier, exceeding expectations, buoyed by higher shipments of electrical and electronic goods as well as commodity-based products, government data showed on Monday.

The median forecast among nine economists surveyed by Reuters was for an 8.8% growth in February. In January, exports had risen 6.6%.

Imports in February jumped 12.7% year-on-year, accelerating from the previous month’s 1.3% expansion, data from the International Trade and Industry Ministry showed. Analysts had expected a 3.9% rise.

Malaysia’s trade surplus widened to 17.9 billion ringgit (134 billion baht) last month from 16.6 billion ringgit in January. Analysts had estimated a surplus of 15.6 billion ringgit.

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