KUALA LUMPUR — Malaysia continued to record double-digit export growth in February amid higher shipments of electrical and electronic products driven by the global trend toward digitalization.
Exports from the Southeast Asian country were also supported by palm oil and palm oil-based agricultural products thanks to a rally in crude palm oil prices, said the Ministry of International Trade and Industry on Friday.
Exports in February expanded 16.8% from a year earlier to 102.27 billion ringgit ($24.38 billion), the seventh consecutive month it has grown by double digits, data from the ministry showed. Imports rose 18.4% on year to MYR82.48 billion, while the trade surplus grew 10.7% to MYR19.79 billion.
Shipments to China in February grew 19.2% to MYR15.28 billion following higher exports of electrical and electronic products as well as chemical products.
Electrical and electronic products also helped lift exports to the U.S. in February by 4.1% to MYR10.4 billion.
Overall imports to Malaysia were mainly driven by electrical machinery, equipment and parts as well as processed food and beverages mainly for household consumption, the ministry said.
Below are the figures for Malaysia’s trade with its major trading partners in February.