KUALA LUMPUR, Dec 5 ― Malaysia's exports in October declined 3.1 percent from a year earlier, falling more than expected and for the first time since June 2013 as demand from top markets China, the US and Japan weakened, and as shipments of petroluem products and palm oil eased, government data showed today.
A Reuters poll had pegged exports to drop 1.6 per cent.
The Malaysian statistics department said the drop on year was also due to the comparison with October last year, which saw the highest monthly exports on record.
Imports were up 9.1 per cent from a year earlier, much stronger than an expected 1.3 per cent contraction.
As a result, the country's trade surplus for the month narrowed to RM1.19 billion versus RM9.3 billion in September and forecasts of RM8.9 billion.
Exports of the country's mainstay electrical and electronic products fell 4.5 per cent, while exports of refined petroleum products dropped 11.8 per cent.
Exports to China declined 17.9 per cent from a year earlier on lower exports. ― Reuters
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