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Malaysia's August exports rise 4.1pct-on-year, better than forecast

Malaysia's exports in August rose 4.1 percent from a year earlier, thanks to rising shipments to Singapore, China and the United States.

The August figures were up from July's 3.5 percent increase, supported by higher exports of electrical and electronic products, and beat economists’ forecast of a two percent rise.

Imports, however, declined 6.1 percent on slowing demand for intermediate and capital goods, and undershot economists' expectations of a 1.6 percent increase.

Malaysia's imports have slowed since the government implemented a consumption-based Goods and Services Tax (GST) in April, despite a surprise jump of 5.9 percent in July.

The trade surplus rose to RM10.19 billion in August from RM2.38 billion in July.

Exports to China and the United States increased by 32.4 percent and 12 percent respectively on the back of rising demand for electrical and electronic goods.

- Reuters

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