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.

Related:

Comments

Latest news

Online Sports Betting Market Growth
Benefits With the market high, sports betting is an activity that receives a high level of support from online betting companies. More betters are opting to forego the long lines at the cashier's counter and the unavailability of their favorite machines.

Mercedes-Benz apologizes to Chinese for quoting the Dalai Lama
Luxury vehicle maker Mercedes-Benz posted an image on Instagram on Monday of a white coupe parked on the beach. Mercedes-Benz deleted the Instagram post and published an apology on Weibo, a Chinese microblogging site.

Energy bills to rise for five million on price cap
The tariff is meant to stop suppliers charging customers too much and links price increases to underlying energy costs. That is because the cost of producing energy - including wholesale costs - is expected to rise in the Spring.

Kaepernick Effect?: Super Bowl 2018 Ratings Hit 10-Year Low
Another video shows an Eagles fan doing a trust fall off the awning outside the Ritz Carlton in Center City, Philadelphia. The halftime show featuring Justin Timberlake averaged 106 million viewers, NBC said.

Creative Planning Sells 1600 Shares of Life Storage Inc (LSI)
The stock of Public Storage (NYSE: PSA ) hit a new 52-week low and has $176.70 target or 5.00% below today's $186.00 share price. Regentatlantic Capital Llc increased its stake in Ca Inc (CA) by 3.31% based on its latest 2017Q3 regulatory filing with the SEC.

Other news