Malaysia Exports Exceeded Expectations in March

The growth of annual exports in March has been sluggish as shown in the government data released on Friday. Although the pace of advancement is vigorous on higher shipments including mining and agricultural goods. Exports of manufactured products rose 22.1 percent while mining goods climbed 36.1 percent. Agricultural goods accelerated to 39.4 percent from 27.7 percent a month before and the highest yearly increase over the past seven years.

Exports climbed to 24.1 percent climbed, much higher from the forecast of 19.2 percent from the previous year but lesser from the 26.5 percent rise in February which is the fastest yearly rate in almost seven years. On the other hand, imports rose to 25.4 percent with higher palm oil products and natural rubber trades. Overall, the trade surplus lessened to 5.4 billion ringgit or $1.25 billion), from 8.7 billion ringgit in February.