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The Canadian Press - ONLINE EDITION
Malaysia's exports up 8.7 per cent in 2011, slowdown seen as global economy weakens
KUALA LUMPUR, Malaysia - Malaysia's trade ministry says exports grew a robust 8.7 per cent in 2011 but will weaken this year amid an anticipated slowdown in the global economy.
The ministry says exports reached nearly 695 billion ringgit ($231 billion), outpacing an 8.6 per cent growth in imports at 574 billion ringgit ($191 billion). It says total trade for 2011 hit a record high of 1.27 trillion ringgit ($422.6 billion).
Trade Minister Mustapa Mohamed says exports and total trade are expected to grow by a slower 5 per cent to 6 per cent this year, citing economic woes in Europe and slowing growth in China.
He said Thursday about 70 per cent of Malaysia's exports went to Asia last year, with China as its top export destination followed by Singapore and Japan.
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