KUALA LUMPUR: Malaysia’s exports fell in September due to weak oil prices and a slump in demand for manufactured goods, government data showed on Friday.
Exports in September contracted 3.0 percent from a year earlier, faster than the 1.9 percent decline forecast in a Reuters poll. In August, exports had increased 1.5 percent.
Annual exports of crude oil and liquefied natural gas fell 26.8 percent and 20 percent, respectively, in September, data from the International Trade and Industry Ministry showed. Meanwhile, shipments of manufactured goods declined 1.2 percent, with lower exports of machinery and metal products. Malaysia’s imports in September fell marginally by 0.1 percent from a year earlier, down from the 4.9 percent growth posted in August.
The trade surplus in September was 7.6 billion ringgit ($1.81 billion), lower than the previous month’s 8.5 billion ringgit.Exports to China fell 1.0 percent from a year earlier, while those to the
European Union declined 8.4 percent. Exports to the United States grew 5.0 percent from a year earlier, on higher shipments of electrical and electronic devices, particularly photosensitive semi-conductor devices.
