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Malaysia's September exports rise 54.5% on year, fastest in more than five years

By Reuters News

KUALA LUMPUR, Oct 19 (Reuters) - Malaysia's exports jumped 54.5% from a year earlier in September, the fastest pace in more than five years, government data showed on Monday.

  • Export growth in September was higher than the 44.6% rise forecast by economists polled by Reuters, and the quickest since April 2021, when shipments rose 63%, according to LSEG data

  • Malaysia, which has emerged as Southeast Asia's fastest-growing data centre market, has benefited from a boom in artificial intelligence infrastructure that has spurred global demand for its tech products and semiconductors

  • September's export growth was driven by rising shipments of electrical and electronic goods, petroleum products, optical and scientific equipment, and machinery, data from the statistics department and trade ministry showed

  • Agricultural exports, however, were down 5.7% in September, amid declining shipments of palm oil and palm oil-based products, the data showed

  • Imports in September grew 52.7% from a year earlier, higher than the 43.2% rise forecast by analysts

  • Malaysia recorded a trade surplus of 33.7 billion ringgit ($8.26 billion) in September, compared to the poll forecast of 30.2 billion ringgit

($1 = 4.0790 ringgit)

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