The Malaysian foreign trade surplus increased markedly in January from a year ago as exports grew much faster than imports, data from the statistical office showed on Friday.
The trade surplus rose to MYR 21.4 billion in January from MYR 3.7 billion in the same month last year. Meanwhile, the surplus decreased from MYR 22.1 billion in December. The expected surplus was MYR 10.1 billion.
The annual growth in exports accelerated to 19.6 percent from 10.2 percent in December, driven by both re-exports and domestic exports.
Data showed that imports rose at a slower pace of 5.3 percent annually versus a 9.5 percent surge in December.
On a seasonally adjusted basis, exports climbed 8.4 percent monthly in January, while imports dropped by 2.7 percent.
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