Malaysia's trade surplus increased to MYR11.97 billion in February from a surplus of MYR8.83 billion in the previous month, the Department of Statistics said Friday. Economists expected the surplus to come in at MYR8.5 billion.

In February, exports rose 3.4% month-on-month to MYR39.59 billion, while imports decreased 8.4% to MYR27.62 billion.

Annually, exports declined 15.9% in February, while imports were down 27.3%. Economists expected exports to fall 25% and imports to drop 28% in the month.

In the January to February period, the trade surplus stood at MYR20.08 billion. Exports declined 22% and imports fell 28.9% from the corresponding period in the previous year.

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