Malaysia's May exports soar 32.5%

A worker collects palm oil fruit inside a palm oil factory in Sepang, outside Kuala Lumpur, Malaysia Feb 18, 2014. (Reuters file photo)

Malaysia's exports in May rose 32.5% from a year earlier, significantly above expectations, as shipments of manufactured goods surged, government data showed on Friday.

The growth pace beat the 21.3% forecast by a Reuters poll and April's 20.6% growth.

Export growth outpaced those of imports for the first time since May 2016, data from the International Trade and Industry Ministry showed. Imports rose 30.4% from a year earlier, up from the 24.7% in April.

The trade surplus in May narrowed to 5.5 billion ringgit (43.6 billion baht) from April's 8.8 billion ringgit. Malaysia reports trade data in ringgit.

The currency has been one of Asia's best-performing ones this year, strengthening about 3% in the second quarter.

Exports to China rose 51.5% from a year earlier, the highest annual growth since February 2010, on higher demand for electrical and electronic goods as well as petroleum products. Shipments to the United States rose 16.3% on rising shipments of manufactured goods, while those to the European Union grew 29.7%.