Malaysia January exports down 0.6 pct y/y, below forecast
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* January exports down 0.6 pct y/y vs Reuters poll f'cast 3.0 pct rise
* January imports down 5.3 pct y/y vs f'cast 2.0 pct rise
* Trade surplus 9.01 bln rgt vs f'cast 6.8 bln rgt
* Exports to China down 22.7 pct y/y; to EU up 3.7 pct y/y; to U.S up 18.1
pct
KUALA LUMPUR, March 6 (Reuters) - Malaysia's exports slid 0.6 percent in
January from a year earlier, wrongfooting expectations for a rise as demand from
China slumped, while imports also came in well below forecasts with a fall of
5.3 percent.
The faster fall in imports resulted in the trade surplus widening to 9.01
billion ringgit ($2.47 billion) in January from 6.4 billion ringgit in the same
month a year ago.
A Reuters poll had forecast a 3.0 percent rise in exports, and a 2.0 percent
rise in imports.
Exports remain supported by shipments of electrical and electronic products,
partially offsetting lower exports of commodities.
Demand for Malaysia's exports increased from the European Union, the United
States and India as those economies improved, though the factory sector in
China, one of Malaysia's biggest customers, contracted in January.
Economists expected imports to grow at a slower pace due to a weaker
ringgit. The weaker currency helped boost exports in ringgit terms. The ringgit
fell more than 4 percent year-to-date, making it the second worst performing
currency in emerging Asia.
For a graphic on Malaysia's exports and imports, please click: http://link.reuters.com/xyb28s
KEY DATA
(Exports and imports in percent, trade in billions of ringgit)
Jan Dec Nov Oct Sept August July June
Exports 63.9 67.7 63.73 65.09 64.5 63.88 61.12 61.23
y/y % -0.6 2.7 2.1 -3.1 2.0 1.7 0.6 7.9
Imports 57.6 58.5 52.6 63.9 55.2 60.02 57.48 57.26
y/y % -5.3 4.2 0.0 9.1 1.1 7.6 -0.7 9.2
9.01 9.2 11.13 1.19 9.3 3.86 3.64 3.97
Balance
MAIN EXPORTS
January 2015 % of % change
(bln rgt) total vs year ago
Electrical & Electronic Products 21.8 34.2 5.9
Palm oil 3.05 4.8 -22.4
Liquefied natural gas 6.2 9.7 -0.1
Chemicals and products 4.2 6.6 7.5
Crude oil 2.8 4.4 1.2
Refined petroleum products 3.9 6.2 -41.5
Machinery 2.7 4.2 22.7
Rubber products 1.5 2.4 2.2
EXPORT MARKETS
(bln rgt) % of total % yr/yr
China 6.4 10.1 -22.7
Singapore 8.7 13.7 0.9
Japan 7.5 11.7 -0.9
USA 5.9 9.2 18.1
Thailand 3.8 6.0 12.5
($1 = 3.6470 ringgit)
(Reporting by Trinna Leong and Al-Zaquan Amer Hamzah; Editing by Simon
Cameron-Moore)