Malaysia Trade Surplus Widens in February

Malaysia reported a MYR7.35 billion trade surplus in February of 2016, up significantly from MYR4.55 billion surplus a year earlier and above market consensus, as exports rose more than imports.

Year-on-year, exports increased by a higher-than-expected 6.7 percent to MYR56.72 billion, following a 2.8 percent drop in January. Sales rose for: electrical & electronic products (+8.9 percent to MYR20.1 billion, 35.4 percent share), palm oil and palm-based products (+7.8 percent to MYR4.3 billion, 7.5 percent share) and timber & timber-based products (+17.4 percent to MYR1.6 billion, 2.8 percent share). In contrast, outbound shipments declined for: LNG (-34.0 percent to MYR3.2 billion, 5.7 percent share), crude petroleum (-14.1 percent to MYR1.6 billion, 2.8 percent share), refined petroleum products (-6.8 percent to MYR3.1 billion, 5.5 percent share) and natural rubber (-9.9 percent to MYR272.7 million, 0.5 percent share).

Compared to the previous year, exports rose to the US (+MYR1.0 billion), China (+MYR696.8 million), the EU countries (+MYR614.9 million), South Korea (+MYR424.9 million) and Indonesia (+MYR421.7 million).

Imports rose 1.6 percent to MYR49.37 billion, as compared to a 3.3 percent increase in the preceding month, driven by  consumption goods and capital goods. Inbound shipments of consumption goods rose 17.9 percent to MYR4.6 billion and accounted for 9.3 percent of total imports. Those of capital goods rose 1.7 percent to MYR7.0 billion, representing 14.2 percent share. In contrast, imports of intermediate goods shrank 6.6 percent to MYR27.4 billion.

In January 2015,  the country posted a MYR5.39 billion trade surplus.

Malaysia Trade Surplus Widens in February

Statsistics Malaysia l Rida Husna |
4/6/2016 5:35:17 AM