English
In surprise, Malaysia’s June export growth slows to 10%
KUALA LUMPUR — Malaysia’s exports in June grew 10% from a year earlier, government data showed on Friday, well below expectations, as shipments of manufactured goods fell.
Export growth missed the 15.8% forecast by a Reuters poll and was sharply down from May’s 32.5% growth. Exports of metal products and tech equipment fell 13.3% and 7.0% respectively in June, data from the International Trade and Industry Ministry showed, despite a rise in shipments of electrical and electronic products.
Exports of mining goods grew 40.3%, driven by rising prices and shipment volumes of liquefied natural gas, the data showed.
June’s import growth fell sharply to 3.7% from a year earlier, down from the 30.4% growth in May and the 19% growth projected in the poll.
Imports of intermediate and capital goods rose but consumption goods, which totalled 5.62 billion ringgit (43.6 billion baht) or 8.9% of total imports, declined by 5.2%. This was due to lower imports of semi-durables, particularly woven apparel.
The trade surplus in June widened to 9.9 billion ringgit (76.9 billion baht) from May’s 5.5 billion ringgit. Malaysia reports trade data in ringgit. The currency has been one of Asia’s best-performing ones this year, strengthening about 3% in the second quarter.
Exports to China remained robust, rising 27.3% from a year earlier, while those to the European Union grew 10%. Shipments to the United States rose 1.8%, slowing from the previous month on lower exports of manufactured goods.
Source: http://www.bangkokpost.com/business/world/1300010/in-surprise-malaysias-june-export-growth-slows-to-10-