Malaysia's exports rose 6.8% in July compared to the same month last year, significantly beating economists' expectations of a 3.9% decline, according to government data released Tuesday.
This unexpected growth was primarily due to a significant increase in shipments of electrical and electronic products, according to data from the Department of Statistics and the Ministry of Trade.
Trade with Singapore saw a significant increase, with exports to the neighboring country jumping 22.2%. Exports to China also performed well, rising 6.8% year-on-year.
On the import front, Malaysia recorded a 20.6% increase in capital goods imports.
However, other import categories showed declines, with intermediate goods declining by 17.8% and consumer goods falling by 5%.
This strong export performance comes at a time when many economists had forecast a contraction in Malaysia's outbound shipments
