Malaysia trade surplus narrowed to MYR 3.57 billion in June of 2014 from MYR 4.32 billion a year earlier as imports grew faster than exports.
Exports rose 7.9 percent year-on year to MYR 61.23 billion in June from MYR 56.75 billion a year earlier. Sales of electrical and electronic products, which account for about 30 percent of total shipments, rose 5.5 percent yoy to MYR 20.39 billion. Sales of petroleum products increased 8.3 percent to MYR 4.98 billion. Exports of palm oil rose 4.2 percent to MYR 3.7 billion.
Shipments to the United States grew 9.5 percent in June compared with a 13.8 percent increase a month before, while exports to the Southeast Asia countries were down to 9.6 percent in June from 14.7 percent in May. Sales to Japan and China fell by 2.6 percent and 1.9 percent respectivelly. Exports to the European Union expanded by 3.9 percent to MYR 6.4 billion.
Imports increased 9.2 percent yoy to MYR 57.26 billion in June of 2014 after rising 11.9 percent in the preceding month. Purchases of capital goods grew 15.1 percent, while those of consumption goods increased by 7.6 percent. Imports of intermediate goods were up 2.7 percent compared to a 10.4 percent increase in the previous month.
From January to June of 2014, Malaysia recorded MYR 44.68 billion trade surplus, a 81.8 percent expansion compared to the same period a year earlier.
8/6/2014 9:41:27 AM