Malaysia's trade surplus increased to MYR 10.6 billion in October of 2017 from MYR 9.8 billion in the same month of the prior year and beating market estimates of a MYR 8.6 billion surplus.
In October, sales surged by 18.9 percent from a year earlier to MYR 82.4 billion, following a 14.8 percent rise in September and above market consensus of a 18.5 percent growth. It was the twelfth straight month of growth in outbound shipments, driven by electrical & electronic products (16.9 percent to MYR 31.1 billion, 37.7 percent of total exports); liquefied natural gas (6.3 percent to MYR 2.9 billion, 3.6 percent share); refined petroleum products (13.4 percent to MYR 4.9 billion, 5.9 percent share); timber and timber-based products (6.7 percent to MYR 2 billion, 2.5 percent share); palm oil and palm oil-based products (11.3 percent to MYR 7 billion, 8.5 percent share), and crude petroleum (62.9 percent to MYR 2.9 biilion, 3.5 percent share).
Exports to China rose 11.5 percent, followed by those to Singapore (11.3 percent), the US (8 percent), Japan (5.9 percent), and Thailand (4.9 percent).
Imports jumped 20.9 percent to MYR 71.9 billion, after a 15.2 percent rise in the prior month while market expected a 20.4 percent growth. It marked the eleventh straight month of increase in inbound shipments, as purchases increased for all categories. Imports of intermediate goods rose 14.8 percent to MYR 38.9 billion, driven by parts & accessories of capital goods, except transport equipment (10.2 percent); industrial supplies, processed (14.8 percent), and fuel & lubricants, processed, others (92 percent). Inbound shipments of capital goods grew by 5.1 percent to MYR 9.2 billion, mainly due to capital goods except transport equipment (23.9 percent). Purchases of consumption goods went up 11.1 percent to MYR 5.9 billion, led by food and beverages, processed mainly for house consumption (18.5 percent), semi-durable (9 percent), and non-durable (10.8 percent).
In September 2017, the trade surplus stood at MYR 8.6 billion.
12/6/2017 5:01:01 AM