Malaysia Trade Surplus Below Forecast in May

Malaysia trade surplus narrowed sharply to MYR 5.72 billion in May of 2014 from MYR 8.9 billion in the previous month and below market forecasts, due to a rise in imports. However, exports grew 16.3 percent year-on-year, exceeding expectations.

Exports amounted to MYR 64.91 billion in May. Sales of electrical and electronic products rose 12.4 percent year-on-year to MYR  21.21 billion. Sales of crude petroleum rose 74 percent to MYR 2.92 billion and sales of palm-oil increased 20 percent to MYR 4.05 billion.

Shipments to the United States grew 13.8 percent in May, exports to the Southeast Asia countries remained strong and rose 14.7 percent. Sales to Japan went up 11.4 percent and those to the European Union rose 23.4 percent. Exports to China were steady in May. 

Imports climbed 11.9 percent year-on-year to MYR 59.19 billion. Intermediate and capital goods were the biggest contributors to the expansion, increasing by 10.4 percent and 8.5 percent, respectively. Purchases of consumption goods rose almost 5 percent to MYR 4.25 billion.

Malaysia Trade Surplus Below Forecast in May

Ministry of International Trade and Industry l Rida l
7/4/2014 8:52:57 AM