KUALA LUMPUR, Nov. 3 (Xinhua) -- Malaysia's exports in September rose 14.8 percent, a slower annual growth for the second month in a row, a report from the International Trade and Industry Ministry said here on Friday.
Exports rose 14.8 percent year-on-year to 78.26 billion ringgit (18.49 billion U.S. dollars) in September, supported by robust demand from major markets including Southeast Asian countries, China, the European Union and the United States, according to the report.
Among the exports, manufactured goods surged by 17.1 percent year-on-year in September, supported mainly by higher exports of electrical and electronic products.
Mining goods exports also grew by 6.1 percent, driven by increased exports of liquefied natural gas.
Exports of agriculture goods, however, fell by 1.8 percent due to lower exports of palm oil and related products.
In terms of market, trade with China rose 15.9 percent year-on-year to 24.68 billion ringgit, accounting for 16.7 percent of Malaysia's total trade.
Exports to members of the Association of Southeast Asian Nations (ASEAN), was up 12.7 percent year-on-year; to the EU and the U.S., exports were up by 16.2 percent and 10.7 percent respectively.
However, the annual growth in September was down from 21.5 percent growth in August and 30.9 percent growth in July, data revealed.
For the first nine months, Malaysia's exports surged by 21.3 percent to 690.25 billion ringgit.
"The full year estimate of 16.6 percent export growth as stated in the Malaysia's Economic Report 2017/2018 is well within reach ... This would support the projected economic growth of between 5.2 percent and 5.7 percent for 2017," the report said.
Malaysia's RHB Research Institute economist Peck Boon Soon said the September exports, which was within his expectation, suggested that the strong momentum would remain, though the growth is expected to be slower than the first half.
He sees the global economic growth remaining favorable to sustain Malaysia's economy for the rest of the year.
But due to a higher base of this year, Peck projected Malaysia's exports to normalize next year, rising at a slower pace of 8 percent to 10 percent.
