Malaysia’s January exports rise 1.6%, missing forecast; dragged by lower palm oil product exports

[KUALA LUMPUR] Malaysia’s external trade in January continued to expand at a slower pace due to lower exports of palm oil and natural rubber products.

Exports increased 1.6 per cent year on year in January, according to data from the Department of Statistics Malaysia (DOSM) released on Monday (Feb 20).

This was below the 7.4 per cent projection in a recent Reuters poll of 10 economists. The growth was also lower than the 6 per cent expansion in December last year. It is also the smallest gain since October 2020 and the fifth straight month of growth slowdown.