KUALA LUMPUR, Feb 5 — Malaysia’s exports grew 1.4 per cent in December, far slower than forecasted by economists, due to continued weakness in global demand for commodities.

The median forecast from a Reuters poll of analysts had predicted a 5 per cent expansion.

The global economic malaise has hit Southeast Asia’s third-largest economy hard, especially with the slowdown in demand for commodities in China, Malaysia’s biggest single trade partner.

The official data released today showed December’s earnings figures again showed sluggish earnings from liquefied natural gas, reflecting the trend from November’s data, while electronics and electrical products - Malaysia’s mainstay exports — showed positive growth.

Malaysia has had to pare down its 2016 Budget late last month with estimated savings of up to RM9 billion after oil prices fell below US$35 (RM125) a barrel, far off the government’s estimated average of US$48 a barrel for Brent crude. — Reuters