Malaysia: Export growth deteriorates sharply in March
May 9, 2012
In March, exports remained flat in USD terms over the same month last year. The reading contrasted both the previous month's 14.7% expansion and market expectations. In fact, the March print represents the second worst result since September 2009. Exports were affected by lower shipments to China and the European Union. Meanwhile, imports rose a milder 1.9% in March, which was well below the 18.8% expansion observed in February and constituted the lowest monthly gain recorded since September 2009. As a result, the trade surplus remained unchanged at February's USD 3.4 billion.