2016.08.0500:21:00UTC+00Malaysia Exports Climb Unexpectedly In June

Malaysia's exports and imports grew unexpectedly in June from a year ago, figures from the Department of Statistics revealed Friday.

Exports rose 3.4 percent year-over-year in June, defying economists' expectations for a decline of 3.7 percent.

Shipments of electrical and electronic products, which accounted for 36.5 percent of total exports, climbed 11.7 percent annually in June. Exports of refined petroleum products logged a growth of 6.5 percent.

Imports surged 8.3 percent in June from a year ago, while it was expected to fall slightly by 0.4 percent. The rise in imports was contributed by intermediate goods.

On a monthly basis, both exports and imports increased by 10.9 percent and 7.5 percent, respectively in June.

The visible trade surplus of the country shrank to MYR 5.5 billion in June from MYR 8.0 billion in the corresponding month last year. The expected surplus for the month was MYR 6.0 billion.