Malaysia's December export growth slows

KUALA LUMPUR, Feb 07 (Reuters): Malaysia's exports rose at a much slower annual pace for a second consecutive month in December, government data showed on Wednesday, as commodity prices and shipment volumes fell.

Exports expanded 4.7 per cent in December from a year earlier, widely missing the 12.4 per cent growth forecast by a Reuters poll, and falling sharply from November's 14.4 per cent growth.

Malaysia recorded double-digit growth in exports throughout 2017, except in June and December.

December's export growth was driven by higher shipments of electrical and electronic products, liquefied natural gas and crude oil, data from the statistics department showed.

Shipments of palm oil and palm oil-based products, however, fell 8.6 percent from a year earlier, the data showed.

Import growth was 7.9 per cent in December, sharply down from the 15.2 per cent expansion posted in November.

Imports of capital goods rose, but those of intermediate goods and consumption goods declined 0.7 and 2.6 per cent respectively.

Trade surplus in December narrowed to 7.3 billion ringgit ($1.87 billion) from 10 billion ringgit in the previous month.

Malaysia's total trade surged 19.4 per cent to 1.8 trillion ringgit ($460.36 billion) in 2017, its best performance in 13 years, the International Trade and Industry Ministry said in a statement.

Malaysia reports trade data in ringgit. The currency was one of Asia's best performers last year, strengthening about 12 per cent.