Exports drop 27.8 pct

From Bloomberg:

Malaysia’s exports fell the most in 15 years in January as the Asian economic slowdown worsened amid slumping global demand for electronics and commodities.

Overseas shipments dropped 27.8 percent from a year earlier to 38.3 billion ringgit ($10.3 billion) after slipping 14.9 percent in December, the trade ministry said in a statement in Kuala Lumpur today. The median estimate in a Bloomberg News survey of 16 economists had been for a 22.4 percent decline.

“It seems that there is no end to the onslaught of the global headwinds,” said Joanna Tan, a regional economist at Forecast Pte in Singapore. “Exports are likely to be pressured further in the coming months as the global economy gives little to hope for with regards to growth prospects.”

It's pretty isnane the numbers. While 27.8 pct isn't the worst, it isn't the best either. Malaysia is in the middle of the pack and probably should do around average, especially with its "balanced" manufacturing, commodities, and services industry.