Malaysia's January Trade Surplus Widened on Increased Electrical & Electronic Exports

KUALA LUMPUR--Malaysia's trade surplus in January widened 38% compared with the same period a year earlier as the growth in exports outpaced the increase in imports.

The country's trade surplus rose to 16.60 billion ringgit ($4.12 billion) helped by an increase in global demand for electrical and electronic goods, Ministry of International Trade and Industry data showed Friday.

The trade surplus was MYR20.70 billion in December and MYR12.03 billion in January 2020.

Imports increased 1.3% to MYR73.02 billion amid higher imports of processed industrial supplies, primary food and beverages mainly for household consumption, especially coffee, tea and spices. Imports grew 1.6% in December.

January exports rose 6.6% to MYR89.63 billion, compared with a 10.8% increase in December. January's exports were supported mainly by higher shipments to China, the U.S, Vietnam, Singapore and Hong Kong.

Exports of manufactured goods in January, which accounted for 88.5% of total exports, rose 11.7%, primarily due to higher shipments of electrical and electronic products, driven by rising demand for various electronic products notably in automotive industry, 5G network and smart devices.

Exports to China rose 26% while exports to the U.S. expanded 3.4%.

Write to Chester Tay at

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  02-25-21 2314ET
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