Malaysia’s June export growth at 7.6pc

KUALA LUMPUR: Malaysia´s exports rebounded in June from the previous month, government data showed on Friday, but the pace of growth was well below expectations as commodity shipments fell.

Exports grew 7.6 percent from a year earlier in June, missing the 11.5 percent forecast in a Reuters poll.

In May, export growth was 3.4 percent, slowing sharply from a 14 percent surge in April.

Exports of manufacturing goods, which account for 85 percent of Malaysia´s total exports, rose 12.7 percent year-on-year in June, on the back of higher demand for electrical and electronic goods, as well as petroleum and metal products, data from the International Trade and Industry Ministry showed.

However, shipments of palm oil, a major export commodity, fell 29.2 percent from a year earlier on lower prices and volumes. June´s exports of mining goods also declined, with shipments of liquefied natural gas (LNG) falling 31.2 percent year-on-year, the data showed.

Malaysia´s imports also rebounded in June, jumping 14.9 percent from a year earlier, compared with the marginal 0.1 percent rise in May.