Malaysia Trade Surplus Smallest in 3 Months
Malaysia's trade surplus narrowed sharply to MYR 7.6 billion in November of 2018 from MYR 9.9 billion in the same month of the prior year and far below market expectations of a surplus of MYR 11.5 billion. It was the smallest trade surplus since August, as exports rose less than imports
1/4/2019 11:55:30 AM
Year-on-year, exports rose by 1.6 percent to MYR to MYR 84.8 billion in November 2018, after a 17.7 percent rise in October and far below market consensus of a 6.6 percent rise. Sales increased for: refined petroleum products (49 percent to MYR 6.5 billion); crude petroleum (3.4 percent to MYR 2.9 billion); liquefied natural gas/LNG (26.4 percent to MYR 4.6 billion). In contrast, outbound shipments fell for: palm oil and palm oil-based products (-18.6 percent to MYR 5.5 billion); electrical & electronic products (-1.7 percent to MYR 31.2 billion); timber and timber-based products (-7.0 percent to 2.0 billion), and natural rubber (-2.7 percent to MYR 304.8 million). Outbound shipments went up to China (3.9 percent); Singapore (7.1 percent) while sales to the US dropped 3.6 percent.
Imports increased 5 percent from a year earlier to MYR 77.2 billion in November 2018, missing market expectations of a 3.1 percent gain and after a 11.4 percent rise in a month earlier. Purchases of consumption goods recorded a 0.9 percent gain to MYR 6.6 billion, consisting of 8.6 percent of total imports. The increase was mainly attributed to non-durables (8.2 percent); food & beverages, processed, mainly for household consumption (2.9 percent), and durables (19.5percent). Also, imports of capital goods went up 0.4 percent to MYR 10.5 billion (13.6 percent share), due to a rise in transport equipment, industrial (168.2 percent) while imports of capital goods except transport equipment declined (-10.1 percent). On the other hand, purchases of intermediate goods fell 0.3 percent to MYR 40.2 billion, consisting of 52.1 percent share. The decrease was dragged by parts & accessories of transport equipment (-17.1 percent) while imports rose for: fuel & lubricants, processed, others (71.1 percent); and industrial supplies processed (5.7 percent).
Considering the first eleven months of the year, the trade surplus increased sharply to MYR 109.6 billion from MYR 91.1 billion in the same period 2017.