KUALA LUMPUR, JMALAYSIA - Malaysia said Friday its exports, the mainstay of the economy, had jumped 21.9 percent year-on-year in May due to stronger demand for electronic goods.

The trade ministry said in a statement that shipments had risen to 52.3 billion ringgit (16.2 billion dollars), while imports were up 34.2 percent at 44.15 billion ringgit, producing a surplus of 8.14 billion ringgit.

The increase was due to higher exports of electrical and electronic products, liquefied natural gas, crude petroleum, chemical products and palm oil, among others.

Electrical and electronic items account for more than a third of Malaysia's total exports to markets such as Singapore, China, Japan, the United States and Thailand.

Export-dependent Malaysia, Southeast Asia's third-largest economy, was hit hard by the global slowdown and its economy shrank 1.7 percent last year.

The economy is forecast to grow 5.5 percent this year, but Prime Minister Najib Razak said last month he was aiming for 6.0 percent this year, as he unveiled a 69-billion-dollar development plan aimed at spurring growth.

Malaysia also expects exports to grow between six and seven percent this year as demand improves. Exports dipped 16.6 percent in 2009.