Malaysia: Exports grow at slowest pace in 23 months
January 11, 2012
In November, exports rose 6.7% in USD terms over the same month the previous year. The reading undershot both the previous month's 14.5% expansion and market expectations. In fact, the November print represents the first month of single-digit growth after 23 consecutive months of double-digit expansion. Exports suffered from lower shipments of electrical and electronic products mainly due to the recent floods in Thailand. Meanwhile, imports grew 7.1% in November, after adding only 3.5% in October. As a result, the trade surplus narrowed from USD 4.2 billion in October to USD 3.0 billion in November.