Malaysia Trade Surplus Above Forecasts in March

Malaysia reported a MYR 7.82 billion trade surplus in March of 2015, narrowing from MYR 9.52 billion a year earlier but beating market forecasts, as imports grew more than double than exports.
Statistics Malaysia l Rida Husna l 5/7/2015 5:38:37 AM
Year-on-year, exports rose by 2.3 percent to MYR 66.50 billion in March.The main contributors to the increase were electrical & electronics /E&E (+14.6 percent to MYR 24.0 billion) and timber & timber-based products (+2.3 percent) to MYR 1.8 billion. In contrast, sales decreased for: refined petroleum products (-39.7 percent to MYR 3,4 billion); crude petroleum (-28.6 percent to MYR 1.9 billion); palm oil and palm-based products (-10.9 percent to MYR 4.8 billion); natural rubber (-33.3 percent) and LNG (-0.6 percent to MYR 5.4 billion).

Compared to the previous month, exports to China rose the most by MYR 2.5 billion, followed by Hong KOng (MYR 1.3 billion), Singapore (MYR 1.2 billion), the US (MYR 1.2 billion) and the EU countries (MYR 892.6 million).

Imports increased by 5.8 percent to MYR 58.60 billion, as purchases of  all goods rose. Imports of intermediate goods grew by 6.7 percent  to MYR 34.5 billion, mainly due to fuel & lubricants, processed, other (+39.1 percent; indutrial supplies, processed (+5.6 percent); food & beverages for industries (+77.9 percent) and industrial supplies (+35.7 percent). Purchases of capital goods increased by 15.6 percent to MYR 9.6 billion and those of consumption goods grew by 0.4 percent to MYR 4.4 billion.

Compared to the preceding month,  imports from Singapore rose the most by MYR 2.1 billion, followed by the US (MYR 1.6 billion), Indonesia (MYR 1.0 billion), Thailand (MYR 910.5 million) and South Korea (MYR 828.3 million).

In February 2015, Malaysia posted a  MYR 4.52 billion trade surplus, the lowest since October 2014.

Malaysia Trade Surplus Above Forecasts in March