KUALA LUMPUR: Malaysia’s exports in August grew to 21.5 percent from a year earlier, beating expectations on the back of manufacturing sector and liquefied natural gas (LNG) exports, but were slower than the previous month. The export growth exceeded the 19.2 percent forecast by a Reuters poll but was down from July’s 30.9 percent growth. The upward trend of manufactured goods exports continued in August with an expansion of 22.3 percent year-on-year. Growth was also driven by increased exports of liquefied natural gas (LNG), government data showed on Friday. Exports of mining goods grew 38.8 percent, accounting for 8.4 percent of Malaysia’s total exports, the data showed. August imports grew 22.6 percent from a year earlier to 72.4 billion ringgit, up from the 21.8 percent growth in July and the 21.0 percent growth projected in the poll.
The trade surplus in August widened to 9.9 billion ringgit ($2.3 billion)from July’s 8.0 billion ringgit. Malaysia reports trade data in ringgit. The currency has been one of Asia’s best-performing ones this year, strengthening about 6 percent this year. Exports to China remained robust, rising 21.2 percent from a year earlier, while those to the European Union grew 21.6 percent.Shipments to the United States rose 14.5 percent.