Exports rose 9.6 percent over a year earlier to MYR 67.11 billion. Compared with September, shipments increased by 6.1 percent. Electrical and electronic products, with a share of 33.3 percent of total exports, increased 12.7 percent yoy; refined petroleum products rose 26.7 percent yoy; liquefied natural gas (12.8 percent) and chemicals and chemical products (up by 7 percent). In contrast, sales of palm oil decreased 15.7 percent and exports of agricultural goods declined by 10.8 percent.
Exports to ASEAN countries rose 5.3 percent, accounting for 27 percent of Malaysia’s total sales in October. Exports to China registered a double digit growth of 23.8 percent, shipments to Japan increased by 7.2 percent and those to the EU grew 21.2 percent. However, sales to the US decreased 6.3 percent, mainly due to lower exports of optical and scientific equipment.
Imports increased by 13.9 percent year-on-year to MYR 58.88 billion, boosted by higher purchases of intermediate goods.