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Malaysia’s November exports below forecast

Malaysia’s November exports below forecast

KUALA LUMPUR: Malaysia’s exports for November 2018 grew 1.6% year-on-year (y-o-y) to RM84.8bil underpinned by to higher exports of refined petroleum products, liquefied natural gas (LNG) and crude petroleum.

However, the growth was a sharp contrast with Bloomberg’s survey of a 6.6% increase. Bloomberg forecast of a 4.1% growth in imports.

In a statement Friday, the Statistics Department said increases for refined petroleum products, LNG and crude petroleum were RM2.2bil, RM953mil and RM430.4mil respectively.

Compared with the preceding month. November’s exports fell 12% from RM96.4bil in October 2018.