August 4, 2017 / 4:00 AM / 16 days ago

Malaysia's June export growth slows to 10 pct y/y, well below f'cast

    * June exports +10.0 pct y/y vs Reuters poll +15.8 pct
    * June imports +3.7 pct y/y vs poll forecast +19.0 pct
    * Trade surplus 9.9 bln rgt vs poll forecast of 5.5 bln rgt
    * Exports to China +27.3 pct y/y, U.S. +1.8 pct, EU +10 pct

    KUALA LUMPUR, Aug 4 (Reuters) - Malaysia's exports in June grew 10 percent
from a year earlier, government data showed on Friday, well below expectations,
as shipments of manufactured goods fell.
    Export growth missed the 15.8 percent forecast by a Reuters poll and was
sharply down from May's 32.5 percent growth. 
    Exports of metal products and tech equipment fell 13.3 percent and 7.0
percent respectively in June, data from the International Trade and Industry
Ministry showed, despite a rise in shipments of electrical and electronic
products. 
    Exports of mining goods grew 40.3 percent, driven by rising prices and
shipment volumes of liquefied natural gas, the data showed.
    June's import growth fell sharply to 3.7 percent from a year earlier, down
from the 30.4 percent growth in May and the 19 percent growth projected in the
poll.
    Imports of intermediate and capital goods rose but consumption goods, which
totalled 5.62 billion ringgit or 8.9 percent of total imports, declined by 5.2
percent. This was due to lower imports of semi-durables, particularly woven
apparel.
    The trade surplus in June widened to 9.9 billion ringgit ($2.32 billion)
from May's 5.5 billion ringgit.
    Malaysia reports trade data in ringgit. The currency has been one of
Asia's best-performing ones this year, strengthening about 3 percent in the
second quarter.
    Exports to China remained robust, rising 27.3 percent from a year earlier,
while those to the European Union grew 10 percent.
    Shipments to the United States rose 1.8 percent, slowing from the previous
month on lower exports of manufactured goods.
    For a graphic on Malaysia's exports and imports, click: link.reuters.com/xyb28s
    
    KEY DATA   
    (Exports and imports in percent, trade in billions of ringgit)      
    
                June      May      Apr      Mar     Feb     Jan     Dec     Nov
   Exports      73.1      79.4     74.0    82.6     71.8    70.2    75.6   72.8
                                                                           
     y/y%        10       32.5     20.6    24.1     26.5    13.6    10.7    7.8
   Imports      63.2      73.9     65.2    77.2     63.1    65.5    66.8   63.8
                                                                           
     y/y%        3.7      30.4     24.7    39.4     27.7    16.1    11.5   11.2
   Balance      9.88      5.49     8.75    5.41     8.71    4.71    8.72   9.03
                                                                           
 
    MAIN EXPORTS
                          June 2017      % of      % change  
                                                       
                           (bln rgt)    total    vs year ago 
                                                       
 Electrical &               28.0         38.3        15.1
 Electronic Products                             
 Chemicals and               5.2         7.1         4.5
 chemicals products                              
                                                 
 Petroleum products          4.7         6.4         -9.5
 Palm oil & Palm-based       4.3         5.8         16.0
 products                                        
                                                 
 Liquefied natural gas       4.0         5.4         97.3
                                                 
 Machinery                   3.3         4.5         0.1
 Manufactures of metal       2.8         3.8        -13.3
 Optical and                 2.2         3.1         -7.0
 scientific equipment                            
 Rubber products             2.0         2.8         22.4
 Crude oil                   1.9         2.6         -1.0
    
  EXPORT MARKETS                    
                  June 2017       % of      % change    
                                                  
                  (bln rgt)      total       vs year ago
                                                  
 Singapore           10.7         14.7          9.1
 China               9.8          13.4          27.3
 USA                 7.2           9.8          1.8
 Japan               6.1           8.3          24.3
 Thailand            3.8           5.3          2.5
 ($1 = 4.2760 ringgit)

 (Reporting by Rozanna Latiff; Editing by Gopakumar Warrier)
  

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