Malaysia's May exports fall, but less than expected
Add BT as a preferred source
[KUALA LUMPUR] Malaysia's May exports fell a less-than-expected 6.7 per cent from a year earlier, helped by exports to China, government data showed on Friday.
Exports, however, shrank for a second straight month due to weak demand for liquefied natural gas, manufactured exports and lower commodity prices.
Annual imports continued to decline in May on the back of weaker domestic demand, after a Goods and Services Tax (GST) was implemented on April 1.
Analysts in a Reuters poll had forecast exports would fall by 8.9 per cent, while imports were expected to see an 8.7 per cent decline.
May's trade surplus narrowed to 5.51 billion ringgit (US$1.5 billion) following a 6.89 billion ringgit surplus the previous month.
Shipments to China in May grew 5.7 per cent, driven by higher exports of petroleum products, palm oil and rubber products.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
When every phone becomes a satellite phone, what happens to Asia’s telcos?
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
Japan Home closing outlets; staff say Valu$ taking over operations
Timah Partners lands S$60 million facility from lenders including UOB, RHB
