Malaysia’s exports fall 0.9% in May

According to media reports, data from Malaysia’s statistics office showed that the country’s exports declined 0.9% year over year to 59.95 billion ringgit ($15 billion) in May. However, imports climbed 3.1% to reach 56.66 billion ringgit ($14.2 billion).

Data showed that exports of manufactured goods rose by 2.7% while shipments of chemicals and chemical products, machinery, equipment and parts and transport equipment also posted increases in May.

However, exports of refined petroleum products fell 17.2 % while exports of LNG slipped 13.5% in May. Among Malaysia’s major trading partners, trade with China rose by 1.2%. Malaysia’s exports to the US also increased 18.7% to 6.36 billion ringgit ($1.6 billion) in May.