Malaysia's exports surge 18.9 pct in 2017

Malaysia's exports surge 18.9 pct in 2017

Malaysia's exports grew 4.7% from a year earlier in December, the pace slowing sharply after shipments grew in double digits in the preceding 11 months of 2017, official data Wednesday showed.

The department said E&E products, which contributed 36.2% of total exports, rose 6.2% to RM28.7 billion in December.

Exports in December totalled 79.3 billion ringgit ($20.29 billion) compared with 75.8 billion ringgit recorded during the same month a year ago, according to data released by the Department of Statistics.

Total trade stood at RM151.4 billion for December 2017, representing a 6.2% growth compared with the same month in 2016.

The trade surplus for December 2017 declined 19.% yoy to RM7.3 billion.

China also remained as Malaysia's largest import source with 19.6 percent share of total imports in 2017.

Going forward, Mustapa expected the country's trade growth rate to moderate to 5 percent, due to high base effect, driven by steady domestic demand amid favorable external sector.

"Exports grew significantly by 18.9%, the strongest growth since 2005, to reach a new high of RM935.39 billion". This was the 20th consecutive year of trade surplus since 1998, the ministry said.



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