Malaysia Trade Surplus Widens in April

Malaysia reported a MYR9.06 billion trade surplus in April of 2016, up from MYR6.87 billion surplus a year earlier and beating market consensus of MYR7.6 billion, as exports rose while imports fell.
Statistics Malaysia l Rida Husna | 6/3/2016 6:32:52 AM
Year-on-year, exports increased 1.6 percent to MYR61.35 billion, following a 0.2 percent growth in March but less than market expectations of a 2.0 percent rise . Sales rose for: refined petroleum products  (+64.0 percent to MYR4.5 billion, 7.3 percent share), electrical & electronic products (+2.1 percent to MYR21.5 billion, 35.0 percent share), palm oil and palm-based products (+6.8 percent to MYR4.9 billion, 8.0 percent share) and natural rubber (+6.1 percent to MYR285.2 million, 0.5 percent share).  In contrast, outbound shipments declined for: LNG (-32.4 percent to MYR2.2 billion, 3.5 percent share), crude petroleum (-25.8 percent to MYR1.4 billion, 2.3 percent share), and timber & timber-based products (+6.1 percent to MYR1.8 billion, 2.9 percent share). 

Exports to the US (+11.7 percent to MYR6.63 percent) and Singapore (+15.4 percent to MYR9.15 billion). In contrast, sales fell to China (-16.6 percent to MYR6.75 percent), Japan (-18.7 percent to MYR4.41 billion) and Thailand (-12.4 percent to MYR3.16 billion).

Imports declined by 2.3 percent from a year earlier to MYR52.29 billion, as compared to a 5.5 percent drop in the preceding month and market estimates of a 0.8 percent gain. The decline was driven by  intermediate goods and capital goods. Inbound shipments of intermediate goods shrank 6.8 percent to MYR29.7 billion and accounted for 56.8 percent of total imports, led by drop in fuel and lubricants, primary (-48.9 percent), fuel & lubricants, processed, others (-54.2 percent). Those of capital goods fell narginally by 0.02 percent to MYR7.0 billion, representing 13.4 percent share. In contrast, imports of consumption goods rose 15.3 percent to MYR5.6 billion and accounted for 10.7 percent of total imports, due to the rise in semi-durables (+28.6 percent), food and beverages, primary (+16.3 percent) and food and beverages, processed (+7.9 percent).

Compared to the previous month, exports declined by 7.9 percent while. imports also dropped by 5.6 percent.

In March 2016, trade surplus stood at MYR11.2 billion.

Malaysia Trade Surplus Widens in April