2020.06.2905:27:00UTC+00Malaysia Exports Fall More Than Expected In May

Malaysia's exports declined at faster than expected rate in May, data from the Department of Statistics revealed on Thursday.

Exports fell 25.5 percent year-on-year to MYR 62.7 billion in May, following a 23.9 percent decrease in April. Economists had expected a 19.9 percent decline.

Exports to India, Singapore, Thailand, Japan, the European Union, Hong Kong and Vietnam lowered in May, while those to China increased.

Imports declined 30.4 percent annually to MYR 52.3 billion in May, following a 23.6 percent fall in the previous month. This was the biggest fall since January 2009. Economists had forecast a fall of 19.8 percent.

Consequently, the trade balance registered a surplus of MYR 10.4 billion in May.

On a monthly basis, exports fell 3.2 percent in May and imports declined 23.6 percent.