Malaysia Trade Surplus Narrows in August

Malaysia trade surplus narrowed to MYR 3.86 billion in August of 2014 from MYR 7.11 billion a year earlier, as imports grew faster than exports and below market forecasts.

In August of 2014, exports rose 1.7 percent year-on year to MYR 63.88 billion. Sales of electrical and electronic product, accounting for about 33.7 percent of total shipments, gained 3.7 percent year-on-year to MYR 761.8 million. Exports of  liquiefied natural gas, accounting for 8.2 percent, rose 3.8 percent to MYR 5.21 billion. Exports of chemicals and chemical products, contributing of 7.1 percent, also increased 11.2 percent to MYR 4.55 billion. In contrast, overseas shipments for petroleum products, accounting for 7.9 percent of total, declined 26 percent to MYR 5.08 billion, while deliveries of palm oil including crude palm, fractioned palm and palm kernel, contributing of 5.9 percent of total, down 3.7 percent to MYR 3.8 billion.

Exports to the United States grew 6.3 percent in August to MYR 5.31 billion due to higher sales of E&E products, optical and scientific as well as processed food. Sales to the Southeast Asia countries rose 1.2 percent to MYR 17.9 billion from and accounted for 28 percent of total exports in the month. Exports to China contracted by 21.9 percent to MYR 7.13 billion due to lower shipment of manufactures of metal, palm oil, E&E products (electronic inbtegrated circuit) as well as chemicals and chemical products. Deliveries to the EU countries increased by 5.7 percent to MYR 6.04 billion with sales of E&E products registered a double digit growth. Outward shipments to Japan expanded by 10.3 percent year-on-year to MYR 6.68 billion, mainly due to higher exports of LNG and E&E products. 

Imports surged 7.6 percent to MYR 60.02 billion. Purchases of intermediate goods, accounting for 62.7 percent of total, increased 19.8 percent to MYR 37.61 billion. Those of capital goods, accounting for 14.3 percent, also rose 9.9 percent to MYR 8.6 billion and consumption goods, accounting for 7 percent, increased 8.4 percent to MYR 4..21 billion.

In July of 2014, the country registered a MYR 3.64 billion trade surplus. During January to August of 2014, trade surplus was valued at MYR 52.31 billion as exports grew 9.5 percent to MYR 505.13 billion while imports rose 6.1 percent to MYR 452.82 billion.

Malaysia Trade Surplus Narrows in August

Statistics Malaysia l Rida l
10/7/2014 6:16:06 AM