The country's trade surplus rose in October to RM4.9 billion from RM4.8 billion the month earlier led by palm oil and oil exports, the Statistics Department said today.

In October, exports rose 2.2 percent to RM31.9 billion from the previous month while imports also rose 2.2 percent to RM27.1 billion previously, it added.

The department said September was 60th consecutive month the trade account remained in surplus.

It said the export rise was due to increases in shipments of palm oil, chemicals and chemical products, crude petroleum, liquefied natural gas (LNG), refined petroleum products, optical and scientific equipment and processed food.

It said exports of electrical and electronics products totaled 16.9 billion ringgit and contributed 52.8 percent of total exports in October.

External trade surplus

Southeast Asia, the United States, the European Union, Japan, Hong Kong and China were top export markets during the month, collectively contributing 78.9 percent to Malaysia's total exports.

October imports rose following a 5.8 percent increase in intermediate goods imports to RM19.5 billion and consumption goods gained 9.7 percent to RM1.7 billion. Intermediate goods account for 69.8 percent of total imports.

Imports of capital goods, however, fell by 19.5 percent to RM3.6 billion.

For the 10 months to October, Malaysia posted an external trade surplus of RM40.9 billion compared to RM45.4 billion a year earlier, with total exports rising 5.4 percent to RM294.8 billion and imports increasing 8.4 percent to RM253.9 billion. AFP