Malaysia’s March exports rebound, exceed survey with 2.3% growth

KUALA LUMPUR: Malaysia’s exports in March 2015 rebounded with a 2.3% growth to RM66.47bil from a year ago, exceeding economists forecast of a 4.2% decline.

The International Trade and Industry Ministry (MITI) said on Thursday the exports were higher than the RM64.96bil a year ago and from the RM53.16bil in February 2015.

MITI said March imports rose by 5.8% to RM58.64bil from RM55.43bil a year ago. The imports were also higher than February’s RM48.61bil.

It said trade balance widened to RM7.82bil from RM4.56bil in February, making it the 209th consecutive month of trade surplus since November 1997.

“Expansion in exports to the US, India, Hong Kong and China supported the higher exports in March 2015,” MITI said.

Malaysia registered higher trade with the US, up RM1.49bil, India (up RM1.27bil), Hong Kong (up RM978.2mil), China (up RM652.7mil) and South Korea (up RM556.5mil).

Leading the exports growth were manufactured goods valued at RM52.67bil or 79.2% of total exports in March. This was an increase of 5.7% or RM2.83bil from March 2014.

“The increase in exports was driven mainly by higher exports of electrical and electronics products, by RM3.06bil, especially electronics integrated circuits. Almost all manufactured products registered increases in exports in March 2015,” it said.