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Malaysia's February Exports Rise 10.8% on Increased Demand for Manufactured Goods
Investing.com – Malaysia’s Ministry of Trade announced on Thursday that the country’s exports in February increased by 10.8% year-on-year, driven by growing demand for manufactured goods.
This figure was below the 13.2% growth forecasted by economists surveyed by Reuters.
Exports to China rose by 13.2% year-on-year in February, while exports to the United States surged by 42.3% due to strong demand for electrical and electronic products.
Data showed that imports in February increased by 8.2% year-on-year, consistent with the forecasted 8% growth.
Malaysia recorded a trade surplus of 16.7 billion ringgit ($4.25 billion) in February, below the forecasted 20.5 billion ringgit. This marks the 70th consecutive month of trade surplus since May 2020.
The Ministry of Trade noted that escalating conflicts in the Middle East pose risks to global trade. The ministry stated that this situation has created additional uncertainty and disrupted international trade flows, especially between Asia and Europe.
The Ministry advised exporters to leverage existing free trade agreements, explore emerging markets, and expand their product portfolios amid the uncertainty.
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