M'sian exports down 5.8% in December on fewer shipments to China and US
KUALA LUMPUR (AFP) - Malaysian exports unexpectedly fell 5.8 per cent in December owing to fewer shipments to China and the United States (US), the trade ministry said on Friday.
Exports totalled 57.27 billion ringgit (S$22.8 billion) after returning to a growth path in November following a one-month contraction.
Full-year exports for 2012 grew 0.6 per cent compared to the previous year as shipments to the debt-laden eurozone slumped 13.7 per cent and those to top trading partner China fell 3.1 per cent.
But Southeast Asian countries and the US offered a glimmer of hope, with exports rising 9.7 per cent and 5.4 per cent respectively.