Business

Malaysia’s exports soar 38% on year

Written by The Frontier Post

F.P Report

KUALA LUMPUR: Malaysia’s exports soared 38 percent to 134.07 billion ringgit (29.95 billion U.S. dollars) in July from a year ago, official data showed Friday.

The export growth was driven by higher demand for electrical and electronic (E&E) products, petroleum products as well as liquefied natural gas (LNG), the Malaysian Ministry of International Trade and Industry said in a statement.

Malaysia’s trade, meanwhile, surged 39.8 percent year on year to 252.65 billion ringgit in July.

Imports for the month jumped 41.9 percent year on year to 118.58 billion ringgit and trade surplus grew by 14.3 percent to 15.49 billion ringgit.

For January to July, Malaysia’s trade was up by 29.9 percent to 1.61 trillion ringgit from the same period last year.

Malaysia’s exports for the period increased by 27.8 percent to 873.07 billion ringgit while imports grew by 32.5 percent to 734.51 billion ringgit.

Trade surplus for the period climbed by 7.4 percent to 138.56 billion ringgit. (1 ringgit equals 0.22 U.S. dollar). (Xinhua)APP)

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