KUALA LUMPUR (May 5): Malaysia's exports increased 24.1% to RM82.6 billion in March from a year earlier on higher sales of crucial products like electrical and electronic (E&E) goods besides oil palm and crude oil-based items.

In a statement today, the Statistics Department said Malaysia saw a rise in exports to China, Japan, Singapore, the US and European Union nations.

The department said Malaysia's E&E exports increased 21.2% while oil palm-based sales rose 25.3%. E&E and oil palm products accounted for 35.4% and 7.8% of total exports respectively.

Crude oil-based product sales, which constituted 13.5% of total exports, also rose. The department said crude oil and liquefied natural gas (LNG) exports climbed 74.1% and 11.5% respectively.

Crude oil and LNG accounted for 3.7% and 4.1% of total exports respectively.

"Refined petroleum products, which accounted for 5.7% of total exports, grew RM1.2 billion or 32.7% to RM4.7 billion due to the increase in both average unit value (+17.7%) and export volume (+12.8%)," the department said.

Malaysian imports rose. The department said imports increased 39.4% to RM77.2 billion in March from a year earlier on higher intermediate, capital and consumption goods purchases.

The department said Malaysian imports rose mainly on purchases from countries including China, Singapore and the US.

In February, Malaysia's exports and imports rose 26.5% and 27.7% respectively, according to the department.