Malaysia Trade Surplus Narrows in April

Malaysia reported a MYR 6.89 billion trade surplus in April of 2015, significantly down from MYR 8.74 billion a year earlier but still above market forecasts, as exports unexpectedly fell more than imports.
Statistics Malaysia l Rida Husna l 6/5/2015 9:18:00 AM
Year-on-year, exports declined by 8.8 percent to MYR 60.38 billion in April. The main commodities which contributed to the decline were: refined petroleum products (-48.2 percent to MYR2.7 billion, accounting for 4.5 percent of total exports); LNG (-40.1 percent to MYR3.2 billion, 5.3 percent share); crude petroleum (-43.7 percent to MYR1.9 billion, 3.2 percent share), palm oil and palm-based products (-16.1 percent to MYR4.6 billion, 7.6 percent share), E&E products (-3.0 percent to MYR21.0 billion, 34.8 percent share) and natural rubber (-38.3 percent to MYR268.9 million, 0.4 percent share). In contrast, sales increased only for timber and timber-based products (+0.3 percent to MYR1.8 billion, 3.0 percent share).

Compared to the previous year, exports to Japan fell the most by MYR 1.8 billion, followed by Singapore (MYR -1.3 billion), Singapore (MYR -1.4 billion), Hong Kong (MYR -727.1 million), Taiwan (MYR-445.0 million) and Philippines (MYR-420.6 million). 

Imports decreased by 7.0 percent to MYR 53.49 billion, mainly due to a drop in purchases of intermediate goods and capital goods. Imports of intermediate goods, representing of 59.5 percent of total imports, fell by 3.0 percent  to MYR 31.8 billion, mainly due to industrial supplies, processed (MYR-1.3 billion, -10.1 percent) and fuel & lubricants, primary (MYR-1.2 billion, -41.5 percent). Purchases of capital goods, accounting for a 13.1 percent share, declined by 16.0 percent to 7.0 billion, due to a decrease in  transport equipment, industrial (MYR-968.7 million,-71.2 percent) and capital goods (except transport equipment) (MYR-360.6 million, -5.2 percent). In contrast, imports of consumption goods, accounting for 9.1 percent share, expanded by 16.0 percent to 7.0 billion, due to an increase of semi-durables (MYR292.0 million, +42.0 percent); food & beverages, processed, mainly for household consumption (MYR104.9 million, +8.7 percent) and non-durables (+MYR90.0 million, +8.3 percent).

Compared to the preceding year, imports from Singapore declined the most by MYR 1.1 billion, followed by South Korea (MYR-930.5 million), the EU countries (MYR-872.7 million), Australia (MYR-726.2 million) and Russia (MYR-508.4 million).

In March 2015, Malaysia posted a  MYR 7.822 billion trade surplus.

Malaysia Trade Surplus Narrows in April