Malaysia's exports fall 17.4 pct in April on softer global demand

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KUALA LUMPUR, May 19 (Xinhua) -- Malaysia's exports declined by 17.4 percent year on year to 105.42 billion ringgit (23.23 billion U.S. dollars) in April due to softer global demand, official data showed Friday.

Exports of manufactured goods, which constituted 86.2 percent of total exports, decreased by 15.5 percent year on year, dragged by lower exports of electrical and electronic products, manufactures of metal and chemicals and chemical products, the Ministry of Investment, Trade and Industry of Malaysia said in a statement.

Exports of agriculture goods, which accounted for 6.8 percent of total exports, also plunged 29.2 percent year on year to 7.21 billion ringgit, due to lower shipments of palm oil and palm oil-based agriculture products.

Exports of mining goods, which made up 6.3 percent of total exports, also slumped 28.9 percent year on year to 6.63 billion ringgit, because of lower exports of crude petroleum.

In tandem with softer global demand, Malaysia's total trade for the month also contracted by 14.5 percent year on year to 198 billion ringgit.

Imports for the month also decreased by 11.1 percent year on year to 92.58 billion ringgit.

The trade surplus for the month stood at 12.85 billion ringgit.

For the period of January to April, Malaysia's trade fell marginally by 1.6 percent to 842.8 billion ringgit compared to the same period of 2022.

Exports were down by 2.6 percent year on year to 460.02 billion ringgit while imports slipped 0.3 percent to 382.78 billion ringgit.

Malaysia's trade surplus for the period also edged down by 12.7 percent year on year to 77.24 billion ringgit (1 ringgit equals 0.22 U.S. dollar). Enditem

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