KUALA LUMPUR: Malaysia's exports in May rose 30.5% from a year earlier to RM120.5bil from RM92.3bil previously, according to the Statistics Department.

       According to 13 economists surveyed in a Reuters poll, May’s exports were expected to rise 28.9%.

       In a statement, the department said imports in May grew 37.3% from a year earlier to an all-time high of RM107.9bil, in line with the surge in intermediate goods by 34.1%.

       Chief Statistician Datuk Seri Dr. Mohd Uzir Mahidin said: “Malaysia’s exports in May 2022, accelerated by 30.5% from RM92.3bil to RM120.5bil.

       “Export value growth in May 2022 was supported by both, domestic exports and re-exports. Domestic exports was valued at RM96bil contributed 79.7% to total exports, grew by 22.1%, year-on-year (y-o-y),” he said.

       Meanwhile, re-exports registered RM24.4bil, up 79.1%.

       Trade surplus in May 2022 with a value of RM12.6bil, marked the 25th consecutive month of trade surplus since May 2020.

       “Nevertheless, this outstanding growth was also influenced by a weak performance during MCO 3.0 in May 2021.

       “In addition, compared with April 2022, the performance of total trade, exports and trade surplus showed declines of 1.4%, 5.6% and 46.3% respectively. On the other hand, imports increased by 3.6%,” Mohd Uzir said.