KUALA LUMPUR- Malaysia’s exports rose 6 percent in December, below analyst expectations, government data showed on Wednesday.
December’s exports had been expected to grow 9 percent, according to 12 economists surveyed by Reuters.
Imports in the month grew 12 percent from a year earlier, data from the International Trade and Industry Ministry showed. Analysts were expecting 15.9 percent increase.
Malaysia recorded a trade surplus of 27.76 billion ringgit ($6.41 billion) in December.
Malaysia’s Prime Minister Anwar Ibrahim last month said the country’s gross domestic product this year was very likely to exceed earlier projections of between 6.5 and 7 percent.
“This year’s economic performance is encouraging as a result of the reopening of the economy in line with a shift to a COVID-19 endemic phase,” Anwar, who is also finance minister, said in parliament.
Malaysia’s economy has bounced back rapidly from the pandemic after an easing of restrictions in April, but there are concerns that a slowdown in the world economy could hurt export growth going forward.
The economy expanded at its fastest pace in over a year in the third quarter, outrunning the growth rate of many of its Southeast Asian peers, although outlook was clouded by the risk of a global slowdown. — Reuters
