Malaysia's exports grew 12.2% on year in January thanks to more shipments of electronics and natural gas on demand from China, Japan and the European Union.

Exports were 63.97 billion ringgit ($19.66 billion) in January compared with 56.99 billion ringgit, the Ministry of International Trade and Industry said in a statement on Friday. The median forecast of 13 economists polled by The Wall Street Journal was for a rise of 9.0%. In December exports rose 14.4% on year.

It is the seventh successive month of rising exports. The central bank says better exports will help cushion moderating domestic demand following public sector consolidation and slowing private consumption.

In January electrical and electronic items, which make up nearly a third of total exports, climbed 14.6% to 20.55 billion ringgit while shipments of liquefied natural gas rose 26.6% to 6.19 billion ringgit.

Exports to China rose 27.2% on orders for items like electronic circuits, refined petroleum products and palm oil. Exports to Japan increased 12.2% mainly thanks to higher exports of electronic products while exports to the European Union expanded 26.1% as a result of demand for electronics and chemicals.

Imports in January rose 7.2% to 57.62 billion ringgit because of demand for intermediate goods--mainly semifinished goods like electronic circuits and motor-vehicle parts mainly used in the final assembly of computers and cars. Economists expected a median contraction of 1.4% in total imports.

The trade surplus in January narrowed to 6.36 billion ringgit compared with December's 9.59 billion ringgit, the ministry said.

MarketWatch