Malaysia's trade surplus increased sharply to MYR 5.5 billion in May of 2017 from MYR 3.3 billion in the same month of the prior year but below market estimates of a MYR 7.5 billion surplus, as exports rose more than imports.
In May, sales jumped 32.5 percent from a year earlier to MYR 79.4 billion, following a 20.6 percent growth in April. It was the seventh straight month of growth, as all main products recorded gains: electrical & electronic products (31.3 percent), palm oil and palm based products (26.8 percent), liquefied natural gas (3.8 percent), crude petroleum (56.8 percent), natural rubber (46.8 percent), and timber and timber-based products (12.8 percent).
By region, exports soared to China (51.5 percent from 50.6 percent in April), the EU (29.7 percent from 26.5 percent) and to Singapore (45 percent from 15.8 percent).
Imports surged 30.4 percent to MYR 73.9 billion, faster than a 24.7 percent rise in the prior month. It was the sixth consecutive month of increase, as purchases expanded for all categories. Imports of intermediate goods surged 33.8 percent, due to parts & accessories of capital goods, except transport equipment (32.9 percent); industrial supplies, processed: (24.9 percent); fuel & lubricants, primary (72.6 percent) and fuel & lubricants, processed (124.1 percent). Purchases of capital goods rose 6.6 percent, driven by capital goods except transport equipment (21.3 percent). Imports of consumption goods increased by 8.3 percent, due to food and beverages, processed mainly for house consumption (21.9 percent) and non-durable (5.9 percent).
In April 2017, the trade surplus came in at MYR 8.8 billion.
7/7/2017 9:43:23 AM