KUALA LUMPUR (Reuters) - Malaysia’s exports increased significantly in November, led by rising shipments of manufactured and agricultural goods, government data showed on Friday.
Exports in November expanded 7.8 percent from a year earlier, faster than the 1.4 percent increased forecast by a Reuters poll. In October, exports fell 8.6 percent, the biggest drop in 18 months.
The rise in manufactured and agricultural goods exports were led by shipments of electrical and electronic products, and palm oil and palm-based goods, according to data from the International Trade and Industry Ministry.
Malaysia’s imports in November also rose, by 11.2 percent from a year earlier, following October’s 6.6 percent decline.
The trade surplus in November slightly narrowed to 9.03 billion ringgit ($2.02 billion), from 9.8 billion ringgit the previous month.
Exports to the United States rose 9.9 percent from a year earlier in November, while those to Europe gained 12.3 percent.
Exports to China rose 12 percent, due to higher demand for electrical and electronic products and palm-based goods.
Malaysia reports trade figures in ringgit.
Reporting by Emily Chow; Editing by Richard Borsuk