Malaysia’s exports grew at the fastest pace in more than a year in September on higher sales of electronics and commodities, an acceleration that may ease as a weakening global economy curbs demand for goods.
Overseas shipments climbed 16.6 per cent to RM58.68 billion (US$18.8 billion) from a year earlier after gaining 10.9 per cent in August, according to a trade ministry statement today. The median estimate of 18 economists in a Bloomberg News survey was for a 12.1 per cent gain.
The pick-up in exports may be short-lived as Europe’s debt crisis and a faltering US recovery hurt demand for Asian goods, raising dangers for regional growth and prompting central banks from Australia to Indonesia to cut interest rates. The worst floods in almost 70 years in neighbouring Thailand have also led to supply disruptions for companies including Apple Inc and Toyota Motor Corp.
“Trade growth has remained healthy despite volatile global sentiment and market turmoil,” Daniel Wilson, an analyst at Australia & New Zealand Banking Group Ltd in Singapore, said before the report. “Looking ahead, supply chain disruptions stemming from Thailand’s floods will place downward pressure on trade growth.”
Liquefied natural gas sales climbed 45.2 per cent, shipments of crude petroleum fell 10.9 per cent and palm oil surged 37 per cent. Exports of electrical and electronics items by companies such as Unisem Bhd gained 2.6 per cent from a year earlier.
Thailand makes about a quarter of the world’s hard-disk drives and serves as a production hub for Japanese carmakers and electronics firms.
“Electrical and electronics exports to Thailand for October and November 2011 are expected to decline owing to the flood situation in the country,” the trade ministry said in today’s report.
Malaysia’s imports rose 12.9 per cent in September from a year earlier to RM49.05 billion. The trade surplus narrowed to RM9.63 billion from RM10.98 billion in August. -- Bloomberg
Overseas shipments climbed 16.6 per cent to RM58.68 billion (US$18.8 billion) from a year earlier after gaining 10.9 per cent in August, according to a trade ministry statement today. The median estimate of 18 economists in a Bloomberg News survey was for a 12.1 per cent gain.
The pick-up in exports may be short-lived as Europe’s debt crisis and a faltering US recovery hurt demand for Asian goods, raising dangers for regional growth and prompting central banks from Australia to Indonesia to cut interest rates. The worst floods in almost 70 years in neighbouring Thailand have also led to supply disruptions for companies including Apple Inc and Toyota Motor Corp.
“Trade growth has remained healthy despite volatile global sentiment and market turmoil,” Daniel Wilson, an analyst at Australia & New Zealand Banking Group Ltd in Singapore, said before the report. “Looking ahead, supply chain disruptions stemming from Thailand’s floods will place downward pressure on trade growth.”
Liquefied natural gas sales climbed 45.2 per cent, shipments of crude petroleum fell 10.9 per cent and palm oil surged 37 per cent. Exports of electrical and electronics items by companies such as Unisem Bhd gained 2.6 per cent from a year earlier.
Thailand makes about a quarter of the world’s hard-disk drives and serves as a production hub for Japanese carmakers and electronics firms.
“Electrical and electronics exports to Thailand for October and November 2011 are expected to decline owing to the flood situation in the country,” the trade ministry said in today’s report.
Malaysia’s imports rose 12.9 per cent in September from a year earlier to RM49.05 billion. The trade surplus narrowed to RM9.63 billion from RM10.98 billion in August. -- Bloomberg
