Malaysia's exports rise for fourth consecutive month, fastest growth since May 2010

Data published by the International Trade and Industry Ministry on Wednesday showed Malaysia's export growth hit a near seven-year high in February, driven by a jump in shipments of manufactured goods and commodities.

Malaysia's exports rose 26.5 percent from a year earlier, the fastest growth since May 2010 and the fourth consecutive month of expansion. The annual increase beat economists' expectations of 17.9 percent.

Exports of manufactured goods was up 24.3 percent and accounted for 80 percent of total exports. Exports of mining goods increased 21.6 percent, mainly on rising crude oil prices, the data showed. Imports in February rose 27.7 percent year-on-year, compared to a rise of 16.1 percent in the previous month and the fastest rate of growth since June 2010's 29.9 percent.

Exports to China rose 47.6 percent from a year earlier, while exports to the United States went up 13.2 percent on stronger demand for manufactured goods. Exports to the European Union grew 26.6 percent.