Malaysia Trade Surplus Largest In 15 Months

Malaysia's trade surplus increased sharply to MYR 9.9 billion in June of 2017 from MYR 5.5 billion in the same month of the prior year and beating market estimates of a MYR 5.5 billion surplus. It was the largest trade surplus since March 2016, as exports rose more than imports.

In June, sales rose 10.0 percent from a year earlier to MYR 73.1 billion, slowing from a 32.5 percent gain in May and below estimates of a 15.8 percent growth. Still, it was the eighth straight month of growth in outbound shipments, driven by electrical & electronic products (15.1 percent to MYR 28.0 billion, 38.3 percent of total exports), liquefied natural gas (97.3 percent to MYR 4.0 billion, 5.4 percent share), palm oil and palm based products (15.8 percent to MYR 6.2 billion, 8.5 percent share) and natural rubber (11.8 percent to MYR 328.8 million, o.4 percent share). In contrast, outbound shipments fell for: refined petroleum products (-15.7 percent to MYR 3.7 billion, 5.0 percent share), timber and timber-based products (-3.7 percent to MYR 1.7 billion, 2.4 percent share) and crude petroleum (-1.0 percent to MYR 1.9 billion, 2.6 percent share).

Exports increased to China (27.3 percent), Singapore (9.1 percent), the US (1.8 percent), Japan (24.3 percent) and Thailand (2.5 percent).

Imports went up 3.7 percent to MYR 63.2 billion, following a 30.4 percent rise in the prior month while market expected a 19.0 percent rise. Still, it marked the seventh consecutive month of increase in inbound shipments. Purchases of intermediate goods went up 10.3 percent to MYR 38.2 billion, due to parts & accessories of capital goods, except transport equipment (17.1 percent); industrial supplies, processed: (6.2 percent); industrial supplies, primary (30.0 percent) and food & beverages, processed, mainly for industries (26.9 percent). Imports of of capital goods rose 0.6 percent to MYR 8.2 billion, driven by transport equipment (3.5 percent) and capital goods (except transport equipment) (0.2 percent). In contrast, imports of consumption goods fell 5.2 percent, due to semi-durables (-10.3 percent) and food and beverages, processed mainly for house consumption (-8.4 percent).

In May 2017, the trade surplus came in at MYR 5.5 billion.

Malaysia Trade Surplus Largest In 15 Months

Statistics Malaysia l Rida Husna |
8/4/2017 5:27:17 AM