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Malaysia's April exports pick up slightly, imports fall
[KUALA LUMPUR] Malaysia's exports in April grew 1.6 per cent from a year earlier on higher shipments of manufactured goods and palm oil, government data showed on Friday.
Exports grew faster than the 0.2 per cent expansion in March, but was slightly slower than the median forecast in a Reuters poll of 2.0 per cent.
The increase, however, was offset by lower exports of liquefied natural gas and crude petroleum, according to data from the International Trade and Industry Ministry.
Imports in April fell 2.3 per cent from a year earlier, compared with the previous month's 5.5 per cent decline.
April's trade surplus fell to RM9.1 billion (S$3 billion) from RM11.2 billion in March.
Exports to China fell 16.6 per cent due to lower shipments of commodities, mainly palm oil and palm-based agriculture products, petroleum products, LNG and metalliferous ores. Exports to the European Union also dropped 5.3 percent.
But those to the United States rose 11.7 per cent, mainly due to a jump in shipments of electrical and electronic products.