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Malaysia's exports grew over 15% in November

KUALA LUMPUR: Malaysia's exports rose by 15.6 percent year on year to 130.24 billion ringgit ($29.46 billion) in November, official data showed on Monday.

The growth was underpinned by outbound shipments of electrical and electronic (E&E) products, liquefied natural gas (LNG) and petroleum products, the Southeast Asian nation's Ministry of International Trade and Industry (MITI) said in a statement.

E&E products, valued at 53.16 billion ringgit ($12.03 billion), accounted for 40.8 percent of total exports and increased 32.1 percent from a year earlier.

Petroleum items, valued at 12.33 billion ringgit ($2.79 billion) and made up 9.5 percent, rose 26.4 percent year on year.

LNG, valued at 6.62 billion ringgit ($1.5 billion) and accounted for 5.1 percent, surged 69.5 percent year on year.

Meanwhile, Malaysia's trade also expanded by 15.6 percent to 238.17 billion ringgit ($53.9 billion) last month from a year ago.

Imports for the month climbed 15.6 percent to 107.93 billion ringgit ($24.42 billion) and trade surplus increased by 15.6 percent to 22.3 billion ringgit ($5.04 billion).

For January to November, Malaysia's trade expanded 29.9 percent to 2.61 trillion ringgit ($590 billion) compared to the same period last year.

Exports increased 27.2 percent year on year to 1.42 trillion ringgit ($321 billion), while imports rose by 33.3 percent to 1.19 trillion ringgit ($269 billion) from a year earlier.

Smartphones are on display during the opening ceremony of the 2022 China Smart Industry Trade Exhibition and Forum in Malaysia’s capital Kuala Lumpur on Sept. 6, 2022. XINHUA FILE PHOTO