Malaysia's June exports rise 27.2% on-year, above forecast

June exports +27.2% y/y vs estimate of +11.7%

  
Image used for illustrative purpose. A view of the The Exchange 106 ((formerly TRX Signature Tower) currently under construction in Kuala Lumpur, Malaysia June 3, 2018.

Image used for illustrative purpose. A view of the The Exchange 106 ((formerly TRX Signature Tower) currently under construction in Kuala Lumpur, Malaysia June 3, 2018.

REUTERS/Lai Seng Sin

KUALA LUMPUR - Malaysia's exports rose 27.2% from a year earlier in June, outstripping expectations, in a tenth straight month of on-year growth, government data showed on Wednesday.

Economists surveyed by Reuters had expected June exports to rise 11.7% from a year earlier. Exports grew 47.3% in May, but that was down from 63% in April, which was the biggest expansion since February 1998.

Export growth in June was largely driven by strong demand for petroleum products, electrical and electronic goods, mainly electronic integrated circuits, as well as rubber products, the International Trade and Industry Ministry said in a statement.

Data showed imports for the month grew 32.1% from a year earlier, compared to a 50.3% rise in May, beating analysts' expectations of 18.2%.

Malaysia's trade surplus in June expanded to 22.24 billion ringgit from 13.7 billion ringgit the previous month. Analysts had forecast a surplus of 19 billion ringgit.

($1 = 4.1490 ringgit)

(Reporting by Liz Lee; Editing by Sonali Paul) ((liz.lee@thomsonreuters.com; +61 394929427; Twitter: @livinglizly))


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