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Business

REUTERS
December 7, 2017

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Malaysian export growth above forecast

KUALA LUMPUR: Malaysia´s October exports rose 18.9 percent from a year earlier, snapping a two-month streak of slowing annual growth on the back of higher demand for manufactured and mining goods.
Export growth was above the 18.5 percent rise forecast by a Reuters poll, and up from September´ 14.8 percent growth. Malaysia has seen double-digit growth in exports for most of 2017 so far, peaking at 32.5 percent in May.
Shipments of manufactured goods, which accounted for over 80 percent of Malaysia´s total exports, were up 19.5 percent from a year earlier in October, data from the International Trade and Industry Ministry showed.
Most of the manufactured goods were electrical and electronic products. Shipments of mining goods rose 27.3 percent from a year earlier, the data showed. Imports in October grew 20.9 percent from a year earlier, versus the 15.2 percent growth posted in September.
October´s trade surplus widened to 10.6 billion ringgit ($2.61 billion), up from 8.6 billion ringgit in September. Malaysia reports trade data in ringgit. The currency has been one of Asia´s best performers, strengthening nearly 10 percent so far this year.

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