KUALA LUMPUR -- Malaysian exports of finished electronics products fell 36.5% year-over-year in February, according to the National Statistics Office.

Electronics unit shipments were down 19% year-on-year, the NSO added.

Overall February exports plunged 18% from last year to $3.74 billion, NSO said. Electronics account for roughly 40%, or  $1.48 billion, of Filipino exports. It was the sharpest drop since December 2011.

Sequentially, exports fell 6.7%.

State officials blamed overall drop in global demand, particularly in the US and Europe, but added that signs of rebounds are expected, and exporters are holding their 10% growth target for 2013.

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