Malaysia’s Exports Contract for the First Time in 31 Months

Malaysia’s exports declined in March, marking the first contraction since August 2020 amid slowing global demand.

Outbound shipments fell 1.4% from a year ago to 129.7 billion ringgit ($29.3 billion), according to a statement from the Ministry of Investment, Trade and Industry. Exports of electrical and electronics products, which accounted for 39% of the Southeast Asian nation’s total, fell 4.4% year-over-year, while palm oil and related agricultural products sagged 14.2%.

The fall in exports narrowly beat the 1.9% drop predicted in a Bloomberg survey, while a 1.8% decline in imports also came in narrower than the estimate for ...