You are here

Malaysia's Jan exports unexpectedly fall 2.8% y-o-y, oil shipments drop

37121082 - 07_01_2016 - MALAYSIA-ECONOMY_TRADE.jpg
Malaysia's January exports fell for the first time in eight months on weak global economic conditions and a slide in oil and gas shipments, government data showed on Friday, confounding economists'expectations for a rise.

[KUALA LUMPUR] Malaysia's January exports fell for the first time in eight months on weak global economic conditions and a slide in oil and gas shipments, government data showed on Friday, confounding economists'expectations for a rise.

Exports in January declined 2.8 per cent from a year earlier, compared with 1.4 per cent growth in December and a Reuters poll forecast of 2.5 per cent. It last declined in May 2015.

The Southeast Asian country's exports had expanded at a slower pace in the last two months, hit by weak global prices for commodity shipments and a slowdown in China, Malaysia's largest trading partner.

Imports in January rose 3.3 per cent from a year earlier, picking up from 3.2 percent the previous month.

sentifi.com

Market voices on:

January's trade surplus was a smaller RM5.39 billion (S$1.8 billion) compared with RM7.99 billion in December.

Exports to the EU grew 6.4 per cent, while US exports rose 7.9 per cent supported by higher exports of manufactured goods.

REUTERS

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom