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August 5, 2008

Malaysia’s June exports up 18.4 pct on year
Malaysian exports rose 18.4 percent in June from last year’s figures but slowing from the 44-month high logged in May, said Reuters on Monday.

Exports totalled 58.23 billion ringgit ($17.85 billion), dipping from 61.1 billion ringgit in May, while imports rose 12.1 percent to 45.26 billion ringgit, according to data from Malaysia’s trade ministry.

Export growth was largely driven by sales of electronics, crude oil and crude palm oil.
A Reuters poll had earlier forecast that June exports would rise 18.5 percent from a year ago, slowing from May due to weaker electronics exports.

Exports had grown 22.9 percent in May, marking the quickest pace since September 2004, when exports rose 30.5 percent.

Data showed that electronics exports, which accounted for 38.5 percent of total exports, rose to 22.41 billion ringgit from 21.0 billion ringgit a year earlier while a surge in palm oil and crude oil exports held up.

Malaysia’s June trade surplus was up 47.7 percent from a year ago at 12.97 billion ringgit, but was lower than May’s 15.5 billion ringgit.

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