KUALA LUMPUR, Aug 19 — Malaysia's exports jumped by an unexpectedly strong 6.8 per cent in July from a year earlier, driven by a surge in shipments of electrical and electronic products, government data showed today.
Exports had been expected to decline by 3.9 per cent in annual terms, according to the median estimate of economists surveyed by Reuters.
The rise in July was in tandem with an increase in re-exports, along with higher shipments of machinery, palm oil-based products and optical and scientific equipment, chief statistician Mohd Uzir Mahidin said in a statement.
Exports to Singapore, a major trade partner, jumped 22.2 per cent while those to China grew 6.8 per cent, data from the statistics department and trade ministry showed. Shipments to the United States rose 3.8 per cent.
Imports in July grew 0.6 per cent from a year earlier, the data showed, compared with a 2.9 per cent decrease forecast by economists.
Imports of capital goods rose 20.6 per cent but imports of intermediate and consumption goods declined, falling 17.8 per cent and 5 per cent, respectively, according to the data.
Malaysia recorded a trade surplus of RM15 billion in July, above the poll forecast of RM5.4 billion.
