Malaysia Trade Surplus Grows In January

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Malaysia's foreign trade surplus increased notably in January from a year ago, as exports grew faster than imports, figures from the Department of Statistics showed Monday.

The trade surplus rose to MYR 9.7 billion in January from MYR 4.7 billion in the corresponding month last year. Economists had expected a surplus of MYR 7.9 billion.

On a yearly basis, exports registered a double-digit growth of 17.9 percent in January, much faster than the expected rise of 13.0 percent.

Shipments of electronic products, which accounted for 38.2 percent of total exports, advanced 27.1 percent annually in January and exports of liquefied natural gas expanded by 14.0 percent.

Imports climbed 11.6 percent in January from last year, just above the 11.0 percent spike economists had forecast.