Malaysia Trade Surplus Narrows in December

Malaysia reported a MYR 9.2 billion trade surplus in December of 2014, down from MYR 9.8 billion a year earlier, as imports grew at a faster pace than exports.
Statistics Malaysia l Rida Husna l 2/5/2015 5:05:19 AM
Year-on-year, exports rose 2.7 percent to MYR 67.7 billion in December supported mainly by rise in shipments of electrical and electronic products (+14.9 percent to MYR 23.3 billion and accounting for about 34.4 percent of total shipments). Exports of liquefied natural gas  (+12.9 percent to MYR 6.3 billion, 9.4 percent of total shipments), and timber and timber-based products (+12.5 percent to MYR 1.9 billion, 2.8 percent) also increased. In contrast, exports declined for: petroleum products (-43.3 percent to MYR 4.3 billion, 6.4 percent of total shipments), crude petroleum (-35.7 percent to MYR 2.3 billion, 3.4 percent), natural rubber (-41.6 percent to MYR 2.3 billion, 0.6 percent) and palm oil and palm oil-based products (-0.9 percent to MYR 5.5 billion, 8.2 percent).

By country, exports to the US rose the most (MYR 1.3 billion), followed by the EU countries (MYR 1.2 billion), Republic of Korea (MYR 963 million), Singapore (+523.2 million) and India (MYR 444.1 million).

Imports increased 4.2 percent to MYR 58.5 billion. Purchases were higher across the board: intermediate goods (+11.8 percent to MYR 33.6 billion, 57.4 percent of total imports, capital goods (+ 4.5 percent to MYR 4.6 billion, 7.8 percent) and capital goods (+2.7 percent to MYR 9.6 billion, 16.3 percent).

By country, imports from China rose the most (MYR 1.7 billion) followed by Saudi Arabia (MYR 589.1 million), India (MYR 526.4 million), the US (MYR 397.9 million) and Australia (MYR 394.0 million).

In November 2014, Malaysia posted a MYR 11.13 billion trade surplus, the largest since November 2011.

From January to Desember 2014, Malaysia's major trading partners were China (14.3 percent market share), followed by Singapore (13.4 percent), European Union (9.9 percent), Japan (9.5 percent) and the United States (8.1 percent).

Malaysia Trade Surplus Narrows in December