* April exports up 14 pct y/y vs Reuters poll of 6.3 pct rise * April imports up 9.1 pct y/y vs poll forecast of 3.1 pct growth * Trade surplus 13.1 bln rgt vs poll forecast of 12.2 bln rgt * Exports to China up 22 pct, up 1.7 pct to the United States
Malaysia's April exports rose 14 percent from a year earlier, buoyed by strong demand for the country's manufactured goods, government data showed onTuesday.
Export growth was more than double the 6.3 percent rise forecast by a Reuters poll, and significantly higher than the 2.2 percent annual growth in March. Malaysia's exports in April totalled 84.2 billion ringgit, the second highest monthly export value recorded after last month's record of 84.5 billion ringgit, the International Trade and Industry Ministry said in a statement.
Driving export growth was a surge in demand for manufactured goods, especially electrical and electronic products. Shipments of manufactured goods accounted for about 84 percent of total exports, its highest share since September 2017.
April imports rose 9.1 percent annually, nearly triple the forecast of 3.1 percent and a strong reversal from the 9.6 percent decline in March. Imports of intermediate goods, which account for 47.5 percent of total imports, fell 11.9 percent from a year earlier. Imports of capital goods grew 4.8 percent and intake of consumption goods went up 7.8 percent.
Malaysia reports trade data in ringgit. April's trade surplus widened to 13.1 billion ringgit ($3.30 billion), a slight dip from 14.7 billion ringgit a month earlier. Annual exports to China rebounded 22 percent in April, after declining 4.7 percent year-on-year in March.
Shipments to the United States expanded 1.7 percent from a year earlier on higher exports of transport equipment, petroleum products as well as optical and scientific equipment. For the first four months of 2018, exports grew 7.8 percent, while imports rose 1.6 percent, compared with the corresponding period last year.
- Reuters