Malaysia's exports rise 54.5% in September
Electrical and electronic exports reached RM45 billion, while the trade surplus stood at RM33.7 billion.
Malaysia recorded export growth of 54.5% year-on-year in September, with electrical and electronic products helping drive the increase, according to the Department of Statistics Malaysia (DOSM). The growth rate was the strongest since April 2021 and surpassed the Bloomberg survey estimate of 39.9%.
DOSM put the value of electrical and electronic exports at RM45 billion (US$11 billion) for September. By destination, exports to the US increased 89.9%, while those bound for China grew 22.1%.
September imports increased 52.7% from a year earlier, exceeding the Bloomberg survey forecast of 39%. The RM33.7 billion trade surplus also exceeded the survey's RM31.6 billion projection.
For the third quarter, exports grew 46%, DOSM said. Over January to September, total trade rose 30.1% against the corresponding period a year earlier, while exports increased 34%.
Malaysia's economy grew 5.3% year-on-year in the three months through September. Separate DOSM figures showed September consumer prices increased 1.8% from a year earlier, below the Bloomberg survey forecast of 1.9%.
