Malaysia Trade Surplus Widens in September

Malaysia trade surplus increased to MYR 9.33 billion in September of 2014 from MYR 8.66 billion a year earlier, mainly driven by demand for electronics and palm oil. The surplus was the largest since March of 2014 and came far above market forecasts.
Statistics Malaysia l Rida l 11/7/2014 10:28:06 AM
Year-on-year, exports rose 2.0 percent to MYR 64.50 billion in September. The main contributors to the increase were electrical and electronic products (+5.3 percent to MYR 23.0 billion and accounting for about 35.6 percent of total shipments), palm oil and palm oil-based products (+16.3 percent  to MYR 6.3 billion and accounting for 9.7 percent of total overseas sales), timber and timber-based products (+8.9 percent to MYR 1.7 billion and accounting for 2.7 percent to total) and liquefied natural gas (+2.4 percent to MYR 5.0 billion and accounting for 7.8 percent). In contrast, exports declined for petroleum products (-15.1 percent to MYR 4.3 billion and accounting for 6.6 percent), natural rubber (-50.7 percent to MYR 305.6 million, accounting for 0.5 percent of total sales) and crude petroleum (-9.0 percent to MYR 2.9 billion and accounting for 4.6 percent).

On annual basis, exports to India rose the most by MYR 1.3 billion, followed by the US (MYR 791.5 million), Singapore (MYR 718.5 million) and Indonesia (MYR 434.4 million).

Imports increased 1.1 percent to MYR 55.2 billion, mainly attributed to higher purchases of intermediate goods (+11.2 percent to MYR 35.0 billion and accounting for 63.4 percent of total purchases). Imports were lower for consumption goods (-1.0 percent to MYR 4.0 billion, accounting for 7.2 percent of total) and capital goods (-19.3 percent to MYR 7.0 billion, representing for 12.5 percent).

The country imported mainly from China (MYR 1.1 billion), Costa Rica (MYR 946.9 million), Saudi Arabia (MYR 669.2 million) and Australia (MYR 556.3 million).
In August of 2014, Malaysia registered a MYR 3.86 billion trade surplus.

During January to September of 2014, the country's major trading partners were China with 14.1 percent market share, followed by Singapore (13.5 percent), The EU countries (9.8 percent), Japan (9.6 percent) and the US (8.0 percent).

Malaysia Trade Surplus Widens in September