Malaysia Trade Surplus Misses Forecasts in July


Malaysia reported a MYR2.38 billion trade surplus in July of 2015, down from MYR3.64 billion a year earlier and missing market consensus. It is the smallest trade surplus since October 2014, as imports grew more than exports.

Year-on-year, exports increased by 3.5 percent to MYR63.20 billion in July. Sales rose for: electrical and electronics/E&E products (+12.1 percent to MYR23.1 billion, accounting for 36.5 percent to total exports), timber and timber-based products (+14.1 percent to MYR1.8 billion, 2.9 percent share), natural rubber (+60.7 percent to MYR484.1 million, 0.8 percent share) and palm oil and palm based-products (+2.4 percent to MYR5.8 billion, 9.1 percent total share). In contrast, outbond shipments declined for: refined petroleum products (-48.7 percent to MYR3.0 billion, 4.8 percent share), LNG (-23.6 percent to MYR3.1 billion, 4.9 percent share) and crude petroleum (-21.1 percent to MYR1.9 billion, 3.0 percent share).

Compared to the previous year, outbond shipments rose to China (+MYR2.3 billion), the US (+1.0 billion), Vietnam (+MYR322.6 million), Indonesia (+MYR278.5 million) and Thailand (+MYR278.4 million).

Imports rose by 5.9 percent to MYR60.9 billion, the first increase after three straight months of drop, as purchases gained for all categories. Inbound shipments of intermediate goods, representing 60.3 percent to total imports, increased 5.7 percent to MYR36.7 billion, mainly due to a 10.9 percent increase in parts & accessories of capital goods (except transport equipment) and a 49.1 percent rise in fuel & lubricants, processed, other. Purchases of consumption goods, contributing 8.7 percent share, rose 25.7 percent to MYR5.3 billion, mainly due to a 69.0 percent increase in semi-durables, food & beverages for household consumption (+19.3 percent) and non-durables (+20.7 percent). Inbound shipments for capital goods, representing 12.3 percent share, rose 3.2 percent to MYR7.5 billion, mainly due to transport equipment, industrial (+18.9 percent) and capital goods except transport equipment (+1.6 percent).

Compared to the preceding year, imports rise from the EU countries (+MYR941.1 million), China(+MYR640.6 million), Taiwan (+MYR511.2 million), Vietnam(+MYR390.1 million) and Saudi Arabia (+MYR319.1 million). 

In June 2015, Malaysia posted a  MYR 7.98 billion trade surplus.

Malaysia Trade Surplus Misses Forecasts in July


Statistics Malaysia l Rida Husna l rida@tradingeconomics.com
9/4/2015 6:11:26 AM