Malaysia's September exports fall more than expected, imports dip

Shipping containers are stacked at North Point in Port Klang, Selangor.
Shipping containers are stacked at North Point in Port Klang, Selangor.PHOTO: BLOOMBERG

KUALA LUMPUR (REUTERS) - Malaysia's exports fell in September due to weak oil prices and a slump in demand for manufactured goods, government data showed on Friday (Nov 4).

Exports in September contracted 3.0 per cent from a year earlier, faster than the 1.9 per cent decline forecast in a Reuters poll. In August, exports had increased 1.5 per cent.

Annual exports of crude oil and liquefied natural gas fell 26.8 percent and 20 per cent, respectively, in September, data from the International Trade and Industry Ministry showed.

Meanwhile, shipments of manufactured goods declined 1.2 per cent, with lower exports of machinery and metal products.

Malaysia's imports in September fell marginally by 0.1 per cent from a year earlier, down from the 4.9 per cent growth posted in August.

The trade surplus in September was RM7.6 billion (S$2.51 billion), lower than the previous month's RM8.5 billion.

Exports to China fell 1.0 per cent from a year earlier, while those to the European Union declined 8.4 per cent.

Exports to the United States grew 5.0 per cent from a year earlier, on higher shipments of electrical and electronic devices, particularly photosensitive semi-conductor devices.