KUALA LUMPUR ⸺ Malaysia’s exports jumped 31% in March from a year earlier, rising at their fastest pace in nearly four years, as the Southeast Asian country continued to shake off the impact of the COVID-19 pandemic, government data showed on Wednesday.
The jump last month was the highest since May 2017, when exports had risen 32.5%, and beat analysts’ expectations of a 22.9% growth. In February, exports grew 17.6%.
March imports rose 19.2% from a year earlier, compared to a 12.7% rise in the previous month, data from the Statistics Department showed. Analysts were expecting an 18% expansion.
Malaysia’s trade surplus widened to 24.2 billion ringgit ($5.90 billion) last month from 17.9 billion ringgit in February. Analysts had estimated it at 18.8 billion ringgit.
($1 = 4.1010 ringgit)
Reporting by Rozanna Latiff; Editing by Rashmi Aich; Reuters