Exports slowed down at a much faster pace than expected to 26.6% yoy in April, after a strong rebound to +36.4% in March and compared with a peak of +37.1% in January. The growth came in weaker than consensus estimate of 38%, indicating that global demand for the country’s exports is beginning to ease. Slower growth was driven by slower increases in the exports of electronic & electrical (E&E) products and non-E&E manufactured goods. These were, however, mitigated a pick-up in the exports of major commodity products during the month, due partly to higher prices.
Economic Highlights - Exports Slowed Down Faster-than-expected In April - 7/6/2010
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