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Malaysia's August export growth at 21.5 pct y/y, above f'cast
October 6, 2017 / 4:34 AM / 16 days ago

Malaysia's August export growth at 21.5 pct y/y, above f'cast

    * August exports +21.5 pct y/y vs Reuters poll +19.2 pct
    * August imports +22.6 pct y/y vs poll forecast +21.0 pct
    * Trade surplus 9.9 bln rgt vs poll forecast of 9.6 bln rgt
    * Exports to China +21.2 pct y/y, U.S. +14.5 pct, EU +21.6 pct

    KUALA LUMPUR, Oct 6 (Reuters) - Malaysia's exports in August grew to 21.5
percent from a year earlier, beating expectations on the back of manufacturing
sector and liquefied natural gas (LNG) exports, but were slower than the
previous month.
    The export growth exceeded the 19.2 percent forecast by a Reuters poll but
was down from July's 30.9 percent growth. 
    The upward trend of manufactured goods exports continued in August with an
expansion of 22.3 percent year-on-year. Growth was also driven by increased
exports of liquefied natural gas (LNG), government data showed on Friday. 
    Exports of mining goods grew 38.8 percent, accounting for 8.4 percent of
Malaysia's total exports, the data showed.
    August imports grew 22.6 percent from a year earlier to 72.4 billion
ringgit, up from the 21.8 percent growth in July and the 21.0 percent growth
projected in the poll.
    The trade surplus in August widened to 9.9 billion ringgit ($2.3
billion)from July's 8.0 billion ringgit.
    Malaysia reports trade data in ringgit. The currency has been one of
Asia's best-performing ones this year, strengthening about 6 percent this year.
    Exports to China remained robust, rising 21.2 percent from a year earlier,
while those to the European Union grew 21.6 percent.
    Shipments to the United States rose 14.5 percent.
    
    KEY DATA   
    (Exports and imports in percent, trade in billions of ringgit)      
    
               Aug     July    June     May     Apr     Mar     Feb    Jan
   Exports     82.2    78.6    73.1     79.4    74.0    82.6   71.8   70.2
                                                                      
     y/y%      21.5    30.9     10      32.5    20.6    24.1   26.5   13.6
   Imports     72.4    70.6    63.2     73.9    65.2    77.2   63.1   65.5
                                                                      
     y/y%      22.6    21.8     3.7     30.4    24.7    39.4   27.7   16.1
   Balance     9.9     8.03    9.88     5.49    8.75    5.41   8.71   4.71
                                                                        
 
    MAIN EXPORTS
                          Aug 2017       % of      % change  
                                                       
                           (bln rgt)    total    vs year ago 
                                                       
 Electrical &               31.0         37.8        20.1
 Electronic Products                             
 Petroleum products          5.3         6.4         33.6
 Chemicals and               5.9         7.2         15.7
 chemicals products                              
                                                 
 Palm oil & Palm-based       4.5         5.5         -8.9
 products                                        
                                                 
 Liquefied natural gas       4.0         4.8        101.8
                                                 
 Machinery                   3.4         4.2         7.9
 Manufactures of metal       3.4         4.1         24.7
 Optical and                 2.9         3.5         28.7
 scientific equipment                            
 Rubber products             2.2         2.7         28.2
 Crude oil                   1.9         2.3         0.0
    
  EXPORT MARKETS                    
                   Aug 2017       % of      % change    
                                                  
                  (bln rgt)      total       vs year ago
                                                  
 Singapore           82.2         14.7          20.5
 China               11.3         13.7          21.2
 USA                 7.9           9.7          14.5
 Japan               6.2           7.5          18.0
 Thailand            4.0           4.9          7.4
 ($1 = 4.2350 ringgit)

 (Reporting by Rozanna Latiff; Editing by Sunil Nair)
  

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