Year-on-year, exports unexpectedly increased by 3.4 percent to MYR66.50 billion, following a 0.9 percent decline in May, while market estimated a 4.2 percent fall. Sales went up for: electrical & electronic products (+4.9 percent to MYR24.3 billion, 36.5 percent share), refined petroleum products (+14.5 percent to MYR5.2 billion) and machinery (+6.9 percent to MYR3.3 billion, 5.0 percent share). In contrast, outbound shipments declined for: LNG (-29.2 percent to MYR2.0 billion, 3.0 percent share), palm oil and palm-based products (-20.3 percent to MYR3.7 billion, 5.5 percent share) and crude oil (-7.2 percent to MYR1.9 billion, 2.9 percent share).
Exports were higher to the US (+22.0 percent to MYR7.04 billion), Singapore (+12.7 percent to MYR9.84 billion) and Japan (+2.4 percent to MYR4.90 billion). In contrast, exports decreased to China (-20.3 percent to MYR7.69 billion) and Thailand (-1.4 percent to MYR3.77 billion).
Imports rose 8.3 percent to MYR60.90 billion, as compared to a 3.1 percent growth in the preceding month and consensus of a 0.3 percent decline. All purchases went up: intermediate goods (+5.7 percent, largely due to a 10.1 percent increase in parts & accessories of capital goods and a 8.2 percent industrial supplies, processed), capital goods (+12.8 percent, due to a 11.7 percent rise in capital goods except transport equipment and a 23.6 percent rise in trannsport equipment, industrial) and consumprion goods (+1.8 percent, due to a 7.6 percent increase in non-durables, a 13.9 percent increase in food & beverages, primary, mainly for household).
In May 2016, trade surplus stood at MYR3.26 billion.