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UPDATE 1-Malaysia’s Dec exports up 10.7 pct, beat forecast

By Wednesday February 8th, 2017 No Comments

KUALA LUMPUR – Feb 8 Malaysia’s exports grew for a second consecutive month in December on strong demand for electrical and electronic goods, and commodities, government data showed on Wednesday.

Exports in December expanded 10.7 percent from a year earlier, faster than the 9.4 percent growth forecast in a Reuters poll. Exports grew 7.8 percent in November.

The growth was were led by manufactured goods that accounted for 80.9 percent of total outgoing shipments, according to data from the country’s International Trade and Industry Ministry.

Imports in December rose 11.5 percent, following November’s increase of 11.2 percent.

Trade surplus in December slightly narrowed to 8.72 billion ringgit ($1.96 billion), from 9.03 billion ringgit the previous month.

Exports to China rose 22.2 percent from a year earlier. Demand from the United States went up 1.7 percent while exports to the EU grew 5.8 percent.

Malaysia’s total trade for 2016 amounted to 1.485 trillion ringgit, up 1.5 percent from a year earlier.

Malaysia reports trade figures in ringgit.

(Source: Reuters)

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