* Jan exports -2.8 pct y/y vs Reuters poll f'cast +2.5 pct
* Jan imports +3.3 pct y/y vs poll f'cast of +4.9 pct
* Trade surplus 5.39 bln rgt vs f'cast 7.70 bln rgt surplus
* Exports to China +1.0 pct y/y; U.S. +7.9 pct; EU +6.4 pct

04/03/2016 (Reuters) - Malaysia's January exports fell for the first time in eight months on weak global economic conditions and a slide in oil and gas shipments, government data showed on Friday, confounding economists' expectations for a rise.

Exports in January declined 2.8 percent from a year earlier, compared with 1.4 percent growth in December and a Reuters poll forecast of 2.5 percent. It last declined in May 2015.

The Southeast Asian country's exports had expanded at a slower pace in the  last two months, hit by weak global prices for commodity shipments and a slowdown in China, Malaysia's largest trading partner.

Imports in January rose 3.3 percent from a year earlier, picking up from 3.2 percent the previous month.

January's trade surplus was a smaller 5.39 billion ringgit ($1.30 billion) compared with 7.99 billion ringgit in December.

Exports to the EU grew 6.4 percent, while U.S. exports rose 7.9 percent supported by higher exports of manufactured goods.

      KEY DATA        

    (Exports and imports in percent, trade in billions of ringgit)  

   

 

                Jan     Dec    Nov     Oct    Sept   August  July   June

   Exports     61.85   68.30  67.63   75.81   70.16  66.53   63.23  64.26

                                                                   

    y/y%        -2.8    1.4    6.3     16.7    8.8    4.1     3.5    5.0

   Imports     56.46   60.31  57.39   63.65   60.47  56.34   60.85  56.28

                                                                    

    y/y%        3.3     3.2    9.1     -0.4    9.6    -6.1    5.9   -1.5

   Balance     5.39    7.99   10.23   12.16   9.69   10.19   2.38   7.98

                                                                    

      

    MAIN EXPORTS

                          Jan 2016       % of      % change 

                                                      

                           (bln rgt)    total    vs year ago

                                                       

 Electrical &                  22.351      36.1          +2.6

 Electronic Products                            

 Palm oil                       3.451       5.6          +9.2

                                                

 Liquefied natural gas          3.205       5.2         -48.2

 Chemicals and                  4.347       7.0          +3.4

 products                                       

 Crude oil                      1.679       2.7         -38.2

                                                 

 Refined petroleum              3.354       5.4         -15.6

 products                                       

 Machinery                      3.276       5.3         +21.9

 Rubber products                1.658       2.7         +11.5

 

  EXPORT MARKETS

                    (bln rgt)   % of total    % yr/yr     

 China                   6.51        10.5         +1.0

 Singapore               9.00        14.5         +3.5

 Japan                   5.52         8.9        -26.0

 USA                     6.33        10.2         +7.8

 Thailand                4.05         6.5         +6.0

 ($1 = 4.1430 ringgit)