World Economy

Malaysia Exports Drop

Malaysia Exports DropMalaysia Exports Drop

Malaysia’s exports dropped by 0.9% year-on-year in May, latest statistics showed, Xinhua reported. In May, Malaysia’s exports decreased by 533.6 million ringgit ($133.9 million) to 59.95 billion ringgit. Imports rose 3.1% to 56.66 billion ringgit, resulting in a 1% growth in total trade. A trade surplus of 3.26 billion ringgit was recorded, according to trade figures released by the international trade and industry ministry. During the month, exports of manufactured goods increased by 2.7%. Lower exports were recorded in agricultural goods and palm oil. Exports of refined petroleum products dropped 17.2% due to the decrease in both average unit value and export volume.