KUALA LUMPUR, Jan. 30 (Xinhua) -- Malaysia's exports rose 6.7 percent to 998.01 billion ringgit (242.9 U.S. dollars) in 2018, surpassing government's earlier forecast of 4.4 percent, with China as its largest trading partner for 10th consecutive year, according to official data released Wednesday
The Minister Of International Trade And Industry said in a statement that Malaysia's total trade expanded 5.9 percent to 1.876 trillion ringgit, driven mainly by higher trade with China.
Malaysia's imports increased by 4.9 percent to 877.74 billion ringgit, with its trade surplus widened 22.1 percent to 120.27 billion ringgit.
In terms of sectors, manufactured goods which accounted for a share of 83.7 percent, grew 9.1 percent year-on-year, driven mainly by E&E shipment that rose 11 percent. Exports of mining goods increased by 7.1 percent, but agriculture goods slumped 14.2 percent.
For December last year, Malaysia's exports were up 4.8 percent year-on-year to 83.27 billion ringgit. Malaysia's total trade for the month grew 3 percent year-on-year to 156.12 billion ringgit.
Socio-Economic Research Center executive director Lee Heng Guie told Xinhua that the full year exports growth was within his expectation and he maintained his exports growth projection this year at 3.3 percent.
"This year will be more challenging due to the slowing down in global economy and semiconductor demand. Softer crude oil and palm oil prices will drag Malaysia's exports too," he added.
