Year-on-year, exports dropped by 0.9 percent to MYR59.92 billion, following a 1.6 percent growth in April while market expectations a 2.6 percent growth. Sales contracted for: crude petroleum (-40.3 percent to MYR1.4 billion, 2.3 percent share), LNG (-29.3 percent to MYR1.9 billion, 3.1 percent share) and refined petroleum products (-3.1 percent to MYR3.7 billion, 6.2 percent share). In contrast, outbound shioments were up for: electrical & electronic products (+3.2 percent to MYR21.8 billion, 36.3 percent share), palm oil and palm-based products (+1.3 percent to MYR5.4 billion, 9.0 percent share), natural rubber (+27.7 percent to MYR281.9 million, 0.5 percent share) and timber & timber-based products (+1.1 percent to MYR1.7 billion, 2.9 percent share).
Exports were lower to China (-12.2 percent to MYR7.09 billion), Singapore (-4.1 percent to MYR8.47 billion), Japan (-7.3 percent to MYR4.26 billion) and Thailand (-5.9 percent to MYR3.45 billion). In contrast, sales rose to the US (+18.7 percent to MYR6.38 billion).
Imports rose 3.1 percent to MYR56.66 billion, as compared to a 2.3 percent drop in the preceding month while market estimates of a 2.9 percent decline. The rebound was driven by capital goods and consumptions goods. Inbound shipments of capital goods rose 17.2 percent to MYR9.3 billion and accounted for 16.4 percent of total imports, due to growth in transport equipment, industrial (+71.9 percent) and capital goods except transport equipment (+7.2 percent). Those of consumption goods rose 13.6 percent to MYR6.1 billion, representing 10.8 percent share. In contrast, imports of intermediate goods dropped by 0.2 percent to MYR31.7 million and accounted for 55.8 percent of total imports, due to fuel & lubricants, primary (-38.1 percent), fuel & lubricants, processed, others (-17.2 percent) and food & beverages, processed, mainly for industries (-18.6 percent).
In April 2016, trade surplus stood at MYR9.06 billion.