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Malaysia's July exports up 30.9 pct y/y, exceed forecast
September 6, 2017 / 4:02 AM / 15 days ago

Malaysia's July exports up 30.9 pct y/y, exceed forecast

    * July exports +30.9 pct y/y vs Reuters poll +23.1 pct
    * July imports +21.8 pct y/y vs poll forecast +13 pct
    * Trade surplus 8.0 bln rgt vs poll forecast of 8.2 bln rgt
    * Exports to China +28.8 pct y/y, U.S. +14.4 pct, EU +34.1 pct

    KUALA LUMPUR, Sept 6 (Reuters) - Malaysia's export growth in July exceeded
expectations, rising 30.9 percent from a year earlier, government data showed on
Wednesday, on higher shipments of manufactured products and mining goods. 
    The pace of expansion beat the 23.1 percent rise forecast by a Reuters poll
and tripled the 10 percent growth posted in June. 
    Shipments of manufactured goods, which accounted for more than four-fifths
of Malaysia's total exports, were up 32.6 percent from a year earlier in July,
data from the International Trade and Industry Ministry showed. Most of the
manufactured goods were electrical and electronic products.
    Exports of mining goods expanded 27.5 percent on higher prices and volumes
of liquefied natural gas, the data showed.
    July's imports grew 21.8 percent from a year earlier, sharply up from the
3.7 percent growth posted in June.
    Imports of intermediate and consumption goods rose but capital goods, which
totalled 13 percent of total imports, declined by 16.5 percent.
    Malaysia reports trade data in ringgit.
    The trade surplus in July narrowed to 8.0 billion ringgit ($1.88
billion)from June's 9.9 billion ringgit.
    Exports to China grew 28.8 percent from a year earlier, the ninth straight
month of double-digit growth.
    Shipments to the United States rose 14.4 percent, while those to the EU grew
34.1 percent.
    Malaysia's total trade surpassed the 1 trillion ringgit mark in the first
seven months of the year, growing 22.7 percent from the corresponding period
last year. 
    Government data showed this was the fastest trade had surpassed the 1
trillion mark, two months earlier than usual. 
    
    KEY DATA   
    (Exports and imports in percent, trade in billions of ringgit)      
    
                July    June     May     Apr     Mar     Feb    Jan    Dec
   Exports      78.6    73.1     79.4    74.0    82.6   71.8   70.2    75.6
                                                                      
     y/y%       30.9     10      32.5    20.6    24.1   26.5   13.6    10.7
   Imports      70.6    63.2     73.9    65.2    77.2   63.1   65.5    66.8
                                                                      
     y/y%       21.8     3.7     30.4    24.7    39.4   27.7   16.1    11.5
   Balance      8.03    9.88     5.49    8.75    5.41   8.71   4.71    8.72
                                                                      
 
    MAIN EXPORTS
                          July 2017      % of      % change  
                                                       
                           (bln rgt)    total    vs year ago 
                                                       
 Electrical &               27.9         35.5        28.3
 Electronic Products                             
 Petroleum products          7.1         9.0          76
 Chemicals and               5.7         7.3         18.0
 chemicals products                              
                                                 
 Palm oil & Palm-based       4.5         5.7         13.1
 products                                        
                                                 
 Liquefied natural gas       3.8         4.8         50.8
                                                 
 Machinery                   3.5         4.4         27.3
 Manufactures of metal       3.0         3.9         35.1
 Optical and                 2.9         3.6         23.2
 scientific equipment                            
 Rubber products             2.3         2.9         39.9
 Crude oil                   2.0         2.6         -2.1
    
  EXPORT MARKETS                    
                  July 2017       % of      % change    
                                                  
                  (bln rgt)      total       vs year ago
                                                  
 Singapore           12.1         15.4          32.3
 China               9.4          11.9          28.8
 USA                 7.3           9.2          14.4
 Japan               6.3           8.0          25.5
 Thailand            4.7           6.0          31.4
 
 ($1 = 4.2450 ringgit)

 (Reporting by Rozanna Latiff; Editing by Gopakumar Warrier)
  

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