January 3, 2020 / 4:00 AM / 16 days ago

Malaysia's Nov exports drop for fourth straight month

    * Nov exports -5.5% y/y vs -4.4% forecast in Reuters poll
    * Nov imports -3.6% y/y vs -5.0% forecast in Reuters poll 
    * Nov trade surplus 6.5 bln rgt vs poll forecast 10.8 bln rgt
    * reuters://realtime/verb=Open/url=cpurl://apps.cp./Apps/econ-polls?RIC=MYEXP%3DECI
 export poll data

    KUALA LUMPUR, Jan 3 (Reuters) - Malaysia's exports dropped for the fourth
straight month in November, contracting 5.5% from a year earlier on lower
shipments of manufactured goods and commodities, government data showed on
Friday.
     The pace of decline was faster than the 4.4% drop forecast by analysts
surveyed in a Reuters poll, though slower than the 6.7% fall recorded in
October. 
    Shipments of manufacturing goods, which accounted for 85% of November's
total exports, fell 2.8% on-year on lower demand for electrical and electronic
goods, petroleum, chemical, and metal products, data from the international
trade and industry ministry showed. 
    Mining and agricultural exports also declined on lower shipments of
liquefied natural gas, palm oil and palm oil-based products.
    Exports to major markets including Southeast Asia, Japan and Hong Kong
declined in November, but exports to China - Malaysia's biggest trading partner
- advanced 4.1%, recovering after a drop in the previous month. 
    Shipments to the United States were also up 6.5% on-year, according to the
data. 
    Malaysia's imports in November fell 3.6% from a year earlier, slower than
the 8.7% decline seen in October. 
    The country reports trade data in ringgit.
    The trade surplus in November narrowed sharply to 6.5 billion ringgit 
($1.59 billion) from 17.3 billion ringgit in the previous month.
    
    KEY DATA
    (Exports and imports in percent, trade in billions of ringgit)
                Nov    Oct    Sept    Aug     July    June    May   April  March
   Exports     80.8    90.6   77.7    81.3    88.0    76.2   84.2   85.2   84.0
                                                                           
     y/y%      -5.5    -6.7   -6.8    -0.8    +1.7    -3.1   +2.5   +1.1   -0.5
   Imports     74.3    73.3   69.4    70.4    73.7    65.9   75.1   74.4   69.7
                                                                           
     y/y%       3.6    -8.7   +2.4   -12.5    -5.9    -9.2   +1.4   +4.4   -0.1
   Balance      6.5    17.3    8.3    10.9    14.3    10.3    9.1   10.9   14.4
                                                                           
 
    MAIN EXPORTS
                         Nov 2019      % of      % change  
                                                     
                         (bln rgt)    total    vs year ago 
                                                     
 Electrical &              27.6        34.1       -11.6
 Electronic Products                           
 Petroleum products         6.2        7.7        -17.2
 Chemicals and              4.8        5.9         -5.1
 chemicals products                            
                                               
 Optical and                3.6        4.4         11.9
 scientific equipment                          
 Palm oil & Palm-based      3.6        4.4         -3.5
 agricultural products                         
 Machinery                  3.5        4.4         6.2
 Manufactures of metal      3.4        4.3         -2.5
                                               
 Liquefied natural gas      3.2        4.0        -35.9
                                               
 Iron & steel products      2.4        3.0         73.4
 Rubber products            2.3        2.8         1.0
    
  EXPORT MARKETS                    
                   Nov 2019       % of      % change       
                  (bln rgt)      total       vs year ago    
                                                    
 China               12.5         15.5            4.1
 Singapore           11.5         14.2           -12.5
 USA                 7.8          10.0            6.5
 Japan               5.0           6.2           -16.0
 Hong Kong           4.7           5.8           -21.1
 
    ($1 = 4.0960 ringgit)

 (Reporting by Rozanna Latiff, Editing by Sherry Jacob-Phillips)
  
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