Subscribe free to our newsletters via your
. Earth Science News .




TRADE WARS
Malaysian exports sustained by China, Japan demand
by Staff Writers
Kuala Lumpur (AFP) Aug 8, 2012


Malaysia's June export growth slowed to 5.4 percent but rising demand from regional heavyweights China and Japan helped offset shrinking shipments to struggling Europe, the government said Wednesday.

Malaysian exports reached 61 billion ringgit ($19.6 billion) in June, marking a slowdown compared to June 2011, when exports grew a year-on-year 8.6 percent, and May's 6.7-percent increase, the trade ministry said.

However, analysts said the country's vital export sector beat expectations and called the performance positive amid global sluggishness, particularly as regional economies such as Singapore and South Korea have seen recent export declines.

Exports to the Association of Southeast Asian Nations' 10 member countries rose 4.2 percent to 15.3 billion ringgit while shipments to China surged 13.2 percent to 8.3 billion, and those to Japan rose 25 percent to 7.1 billion ringgit.

Exports to struggling European Union economies, however, fell 8.4 percent to 5.37 billion ringgit, the third straight monthly decline.

The trade performance will sustain hopes that Malaysia can achieve targeted economic growth of 4-5 percent for 2012, said Yeah Kim Leng, chief economist with financial research firm RAM Holdings.

"The June numbers have eased concerns of a slowdown in Malaysian exports," he said.

"We hope a revival in China's growth and a further recovery in Japan will boost global demand."

Southeast Asia's third-largest economy, Malaysia saw exports shrink slightly in March and April due in large part to the debt crisis in eurozone countries.

The resource-rich nation relies heavily on exports of commodities such as palm oil and energy products as well as some manufactured goods such as electronics.

China, the world's number two economy, supplanted Singapore last year as Malaysia's top export market.

Malaysian imports grew 3.6 percent to 51.78 billion ringgit in June.

Total trade grew 5.9 percent for the first six months of the year, with exports up 4.2 percent over that period.

.


Related Links
Global Trade News






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








TRADE WARS
Italian steel giant ordered to upgrade but plant kept open
Rome (AFP) Aug 7, 2012
An Italian court Tuesday ordered the country's biggest steel plant to clean up its act but did not call for closure despite fears that chemicals spewed by the unit were behind the high cancer rates in the region. One of Europe's biggest steel factories, the ILVA plant had become the scene of a fierce stand-off between those who want it closed and thousands of families that depend on it at a ... read more


TRADE WARS
Armageddon looming? Tell Bruce Willis not to bother

TEPCO video shows tensions as Fukushima crisis unfurls

FEMA cell-phone alerts warn too many

Queen, politicians, Nobel winner named to UN social panel

TRADE WARS
Samsung exec 'very offended' by Apple rip-off claim

Wrinkled surfaces could have widespread applications

Writing graphics software gets much easier

Christine Arlt goes from dwarf research to Institute management

TRADE WARS
Thai villagers in legal challenge against Laos dam

Deep-sea squid can 'jettison arms' as defensive tactic

China urges Sri Lanka to release fishermen

Study finds healthy seafood comes from sustainable fish

TRADE WARS
Tropical climate in the Antarctic

Aerial photos reveal dynamic ice sheet

Russian icebreaker sets out for expedition

Researchers analyze melting glaciers and water resources in Central Asia

TRADE WARS
Roots and microbes: Bringing a complex underground ecology into the lab

India's economic growth seen lower as rains play truant

Early weaning, DDGS feed could cut costs for cattle producers

UCLA research makes possible rapid assessment of plant drought tolerance

TRADE WARS
13-year Cascadia study complete - and earthquake risk looms large

China pulls paper over flood story: rights group

Long-dormant New Zealand volcano erupts

India floods kill 34, hundreds of pilgrims stranded

TRADE WARS
Mali needs other options if diplomacy fails: Rabat

Heritage listing spurs Congo park poaching crackdown

Gunmen kill 2 sailors, kidnap 4 foreigners in Nigeria

France would back African intervention in Mali: minister

TRADE WARS
It's in our genes: Why women outlive men

Later Stone Age got earlier start in South Africa than thought

Modern culture 44,000 years ago

Hey, I'm over here: Men and women see things differently




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement