Malaysia's exports contract 5.9 pct in November-Xinhua

Malaysia's exports contract 5.9 pct in November

Source: Xinhua| 2023-12-19 20:08:45|Editor: huaxia

KUALA LUMPUR, Dec. 19 (Xinhua) -- Malaysia's exports contracted 5.9 percent year on year to 122.1 billion ringgit (26.08 billion U.S. dollars) in November, official data showed Tuesday.

The Ministry of Investment, Trade, and Industry said in a statement that exports of manufacturing goods which accounted for 83.8 percent of total exports contracted 6.7 percent year on year as lower shipments was recorded for electrical and electronic (E&E) products, chemicals and chemical products as well as transport equipment.

Exports of agriculture goods declined 5.5 percent year on year mainly on lower exports of palm oil and palm oil-based agriculture products that were affected significantly by weaker export prices of palm oil.

Exports of mining goods, however, expanded 0.5 percent year on year.

Meanwhile. Malaysia's trade decreased at a moderate rate of 2.4 percent year-on-year to 231.79 billion ringgit.

Imports for the month grew 1.7 percent to 109.69 billion ringgit.

For the period of January to November, Malaysia's trade declined 7.5 percent year on year to 2.4 trillion ringgit.

Exports decreased 7.8 percent to 1.31 trillion ringgit, while imports were lower by 7.1 percent to 1.11 trillion ringgit.

Malaysia's trade surplus for the period edged down 11.3 percent to 202.49 billion ringgit. (1 ringgit equals 0.21 U.S. dollars).