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Malaysia’s exports unexpectedly rise in June

by ChemOrbis Editorial Team -
  • 06/08/2015 (11:57)
According to media reports, Malaysia’s exports unexpectedly rose in June on the back of higher shipments to China. Exports rose 5% from a year earlier in June while economists’ initial estimates called for a decrease of 0.4% in a survey conducted by Reuters.

According to data released by the Malaysian government, liquefied natural gas (LNG) and crude oil exports slumped 45.2% and 34.1%, respectively, in June compared with the same month of 2014 while palm oil, chemical products and electronics exports posted increases in June, rising by 26.1%, 13.5% and 15.1%, respectively. Exports for refined petroleum products declined 9.6% from a year earlier.

Among the main export destinations, Malaysia’s exports to China surged 49.3% in June while exports to Singapore, the USA and Thailand rose by 3.8%, 9.5% and 11.9%, respectively, from a year earlier. However, Malaysia’s shipments to Japan contracted 25.1% on the year in June.

In addition, Malaysia’s imports declined 1.5% on the year in June after posting a decrease of 7.2% in the previous month. June imports represented the third consecutive decreases on a yearly basis. Economists had expected to see a 3.7% drop in imports in June.
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