KUALA LUMPUR: Malaysia said Wednesday its exports growth eased to 8.0 percent year-on-year in November due to softening in demand from traditional markets such as Singapore, Thailand and the United States.
The trade ministry said Malaysian overseas shipments, the main engine of the country's economy, hit 56.86 billion ringgit ($18.07 billion).
That compares with October's 15.8 percent surge to a record high on the back of stronger demand for palm oil, rubber and energy products.
However, strong demand in November for energy products and iron and steel especially from Japan helped to sustain growth.
"The smaller growth in Malaysian exports and other export-oriented Asian countries are broadly in line with regional export trends which are feeling the impact of the slowdown in demand in advanced economies," said Yeah Kim Leng, chief economist with financial research firm RAM Holdings.
Meanwhile, imports for November climbed 8.4 percent year on year to 47.38 billion ringgit.
Total trade for the first 11 months rose 8.7 percent to 1.16 trillion ringgit from the previous period, with exports up 9.0 percent at 633.81 billion ringgit.
The trade ministry said exports were also boosted by demand from Northeast Asia and China.
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