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Malaysia's April exports rise 63per cent year-on-year, fastest since 1998

Malaysia's April exports rise 63per cent year-on-year, fastest since 1998

FILE PHOTO: A container is seen near Northport in Klang outside Kuala Lumpur June 6, 2014. REUTERS/Samsul Said

KUALA LUMPUR: Malaysia's exports in April rose 63per cent from a year earlier, the fastest pace of growth in more than two decades, government data showed on Friday.

April's expansion exceeded the 52.4per cent rise forecast by 10 economists in a Reuters' poll and was up from the 31per cent growth posted in March.

The pace of growth was the fastest since February 1998, with a rise in shipments seen in all categories except liquefied natural gas and transport equipment, the International Trade and Industry Ministry said in a statement.

Imports in April grew 24.4per cent from a year earlier, compared to the 19.2per cent rise in March, the data showed. Analysts were expecting a 19.9per cent expansion.

Malaysia's trade surplus in April narrowed slightly to 20.5 billion ringgit (US$4.95 billion) from 24.2 billion ringgit the previous month.

(US$1 = 4.1375 ringgit)

(Reporting by Rozanna Latiff; Editing by Jacqueline Wong)

Source: Reuters

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