Wednesday March 11, 2009

Malaysia exports fall 27.8% in Jan 2009, biggest drop in 15 years

channelnewsasia.com :

Malaysia's Jan 2009 exports plunged 27.8% year-on-year, mostly due to lower demand for electrical and electronic products, which account for one-third of Malaysia's total exports to key markets in China, Japan, Europe and the United States. In Dec 2008, Malaysian exports slumped 14.9%. An influential think tank said Malaysia was on the brink of a recession as falling demand hits exports and manufacturing. Official data showed Malaysia's economic growth slowed to just 0.1% in 2008 Q4, hit by falling exports and manufacturing as demand continues to evaporate.

bloomberg.com :

Malaysia's exports fell the most in 15 years in Jan 2009 as the Asian economic slowdown worsened amid slumping global demand for electronics and commodities. The central bank has said the collapse in global demand could tilt the nation into an economic contraction this year. Asia's export-dependent nations are reeling from the global slowdown, as Japan's exports plunged 45.7% in January and Singapore's exports fell 34.8%, the most in at least 22 years. Malaysia's exports to the U.S. dropped 31.8%. Shipments of electrical and electronics goods slid 33% from a year earlier. Palm oil sales abroad fell 22% as prices eased from record highs reached earlier last year. Malaysia is Southeast Asia's second-largest oil and gas producer and the world's No. 2 palm oil seller.

- Malaysia, while not as exports-dependent as Singapore or Japan, is hardly immune to the ongoing global economic collapse either. On the plus side, it does have commodities such as crude oil, palm oil and there is plenty of agriculture going on, but on the downside, the very sectors such as electronics and finance that they had been working on to try to bring the country towards a more developed status aren't going to be doing too well and that's putting it mildly.

See also :

1. Malaysia exports to US drop 30% in Dec 2008 as exports fall most in 7 years
2. Not just another recession : Singapore NODX exports collapse 34.8% in Jan 2009 in largest fall ever
3. Singapore, Taiwan GDP may shrink 10-11% in 2009 : CLSA
4. Japan exports fell 45.7% in Jan 2009, economic collapse and depression next

(2009-03-11 21:11:39 SGT) [Biz] Permalink

Most popular blog postings on lowem.log :

1. Singapore MRT rail network length to double by 2020
2. 2010 Nissan Leaf electric car specifications : 107hp, 24KWh lithium-ion batteries, 100-mile range
3. Live spot gold price quotes chart on COMEX
4. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
5. AVG Anti-Virus Free Edition 2011 direct download link
6. Real-time live gold and silver price quotes chart on COMEX
7. Singapore electric vehicles : Government agencies EMA and LTA to study EV introduction
8. Book review : Shut Down by William Flynn

Featured articles on lowem.log :

1. Book review : Shut Down by William Flynn
2. Singapore electric cars testing starts with 9 electric vehicles
3. Honda, GS Yuasa JV to make lithium-ion batteries for 2010/2011 Honda Civic Hybrid
4. 2010 Honda Civic Hybrid preliminary specifications released
5. 2010 Honda CR-Z hybrid, 2010 Honda Fit/Jazz hybrid models confirmed
6. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
7. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
8. Singapore : Nuclear power not ruled out