KUALA LUMPUR (Dec 4): Malaysian exports rose 16.7% to RM75.8 billion in October from a year earlier on higher sales of the crucial electrical and electronic (E&E) and oil palm-based products to major buyers.

In a statement today, the Statistics Department said exports also rose on higher sales of timber-based items and natural rubber.

These items had mitigated the impact of lower oil and gas-related exports, which included liquefied natural gas and crude petroleum.

E&E and oil palm-based products constituted 34.6% and 8.1% of total exports respectively.

In geographical terms, the department said Malaysia had sold more goods to the US and European Union countries, besides China, Singapore and Australia.

Imports, however, fell 0.4% to RM63.7 billion from a year earlier on less intermediate goods purchases.

October's export and import values translated into total trade of RM139.5 billion during the month. The figure represented an 8.2% rise from a year earlier.

The country's 16.7% on-year export growth in October had significantly beaten consensus forecast from a Reuters' survey.

Reuters reported that October's exports had the highest year-on-year growth since April 2014, more than twice the 7.9% growth forecasted by economists in a poll.