Ex­ports likely have re­mained re­silient

New Straits Times - - Business -

KUALA LUMPUR: Malaysia’s ex­ports likely re­mained re­silient in June although base ef­fects may lower the growth pace in the sec­ond half of the year, say econ­o­mists.

A NST Busi­ness poll has pro­jected June ex­ports to have grown 18.7 per cent com­pared with the same month a year ago, im­ports at 20.34 per cent and the trade bal­ance at aver­age RM5.52 bil­lion.

The In­ter­na­tional Trade and In­dus­try Min­istry will re­lease the data to­day.

Ex­ports surged 32.5 per cent in May sup­ported by im­ports, with growth of 30.4 per cent.

No­mura Re­search said Asia exJa­pan’s ex­ports — a bell­wether of global de­mand — pointed to con­tin­ued re­silience.

“For eight of the 10 Asian coun­tries, ag­gre­gate ex­port value grew 8.7 per cent year-on-year in June and 8.2 per cent in the sec­ond quar­ter, sim­i­lar to the 8.5 per cent pace in the first quar­ter.”

Asia’s ex­port ex­pan­sion re­mains broadly-based.

“Ex­ports to China have cooled from very high growth ear­lier this year but are still grow­ing solidly, while ship­ments to the rest of Asia, the United States, Euro­pean Union and else­where are all grow­ing in a tight range of 9.0 to 13.7 per cent year-on-year.”

Stan­dard Char­tered Bank Asean econ­o­mist Ed­ward Lee ex­pected trade to have eased in June on an un­favourable base ef­fect.

“Ex­ports of crude pe­tro­leum, rub­ber, palm oil and elec­tron­ics (in­te­grated cir­cuits) have been in­creas­ing in dou­ble dig­its since the start of the year,” he said. Rupa Damodaran

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