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Malaysia exports fall 27.8%, steepest in 28years

Posted on: March 6, 2009


Reuters – Friday, March 6

KUALA LUMPUR, March 6 – Malaysia’s exports plunged 27.8 percent in January from a year ago, the steepest decline in 28 years and worse than expected, data released by the trade ministry showed on Friday.

Exports <MYEXP=ECI> dropped to 38.3 billion ringgit ($10.28 billion), while imports <MYIMP=ECI> fell 32 percent from a year ago to 29.47 billion ringgit, according to the data.

Analysts expected January exports to drop 24.8 percent and imports to fall 28.5 percent, according to the median of a Reuters poll of 10 economists. [nKLR484576]

In December, exports fell 14.9 percent to 46.09 billion ringgit.

Trade surplus <MYTRD=ECI> in January stood at 8.83 billion ringgit, compared with 11.7 billion ringgit in December.

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