KUALA LUMPUR, Feb 20 (Reuters) - Malaysia's exports rose more than expected in January from a year earlier, boosted by higher shipments of manufactured goods, the trade ministry said on Tuesday.
Exports rose 8.7% from a year earlier to 122.43 billion ringgit , more than the 3% growth estimated by 17 economists surveyed by Reuters.
Exports of manufactured goods, which accounted for 84.7% of total shipments, improved by 9.3% year-on-year, the trade ministry said in a statement.
"The export growth was boosted by higher shipments of petroleum products, machinery, equipment and parts, iron and steel products as well as manufactures of metal," the ministry said.
Exports of palm oil and palm oil-based agriculture products from the world's second-biggest producer increased by 16.3% to 6.15 billion ringgit, the ministry added.
Members of the Association of Southeast Asian Nations (ASEAN) accounted for 27.6% of Malaysia's total trade, increasing to 17.4% in January from a year earlier, with exports growing 9.5%.
Malaysia's exports to the United States improved 11.9%, while exports to the European Union were up 6.4%. However, exports to China fell 7.6% as a result of lower shipments of electrical and electronic goods.
Imports in January grew 18.8% from a year earlier to 112.3 billion ringgit, data from the trade ministry showed, versus an 8% increase expected in the Reuters poll.
Malaysia recorded a trade surplus of 10.12 billion ringgit in January. ($1 = 4.7890 ringgit) (Reporting by Danial Azhar; Editing by Kanupriya Kapoor)
