Malaysia’s May exports unexpectedly fall 1.1% on year

[KUALA LUMPUR] Malaysia‘s exports unexpectedly fell by 1.1 per cent in May from a year earlier after a decline in shipments of petroleum products, chemicals, and iron and steel goods, government data showed on Friday.

May’s exports were expected to grow 7.5 per cent on an annual basis, according to a median forecast among economists surveyed by Reuters. Imports in May grew 6.6 per cent from a year earlier, data from the trade ministry showed, below the poll forecast of 9 per cent.

Malaysia recorded a trade surplus of RM0.8 billion (S$241.7 million) in May, missing the poll’s forecast of RM8.1 billion. REUTERS