KUALA LUMPUR (May 4): Malaysia’s March 2018 exports grew 2.2% to RM84.5 billion from a year earlier on higher sales of electrical and electronic (E&E) products and crude petroleum, according to data from the Statistics Department.

In a statement, the Statistics Department said E&E and crude petroleum exports increased 8.7% and 18.4% respectively.

“On a year-on-year basis, (Malaysia's total) exports rose due to higher exports to Hong Kong (+RM2.4 billion), European Union (+RM454.4 million), Thailand (+RM405.4 million), India (+RM340.5 million) and Republic of Korea (+RM288.2 million),” the department added.

Malaysia's March imports fell from a year earlier. The department said imports decreased 9.6% to RM69.8 billion.

“The decline in imports was mainly attributed to intermediate goods, capital goods and consumption goods,” the department said.

Last month, the department reported Malaysia's February 2018 exports and imports had dropped 2% and 2.8% respectively, from a year earlier.