Malaysia Trade Surplus Widens in August

Malaysia reported a MYR10.19 billion trade surplus in August of 2015, significantly up from MYR3.86 billion a year earlier and beating market consensus, as exports grew higher than expected while imports fell.

Year-on-year, exports increased by 4.1 percent to MYR66.53 billion in August. Sales fore for: electrical & electronic products (+16.7 percent to MYR25.08 billion), palm oil (+4.0 percent to MYR3.95 billion), chemical products (+0.7 percent to MYR4.58 billion), machinery (+12.3 percent to MYR3.03 billion) and rubber products (+7.3 percent to MYR1.74 billion). In contrast, outbond shipments declined for: LNG (-42.3 percent to MYR3.1 billion), crude oil (-40.6 percent to MYR1.71 billion) and refined petroleum products (-7.1 percent to MYR4.72 billion).

Compared to the previous year, exports rose to China (+32.4 percent to MYR9.44 billion), the US (+24.2 percent to MYR6.60 billion), Thailand (+16.1 percent to MYR4.20 billion). In contrast, sales fell to Japan by 16.2 percent to MYR5.78 billion.

Imports declined by 6.1 percent to MYR56.34 billion with inbound shipments of intermediate and capital goods slowed. Malaysia's imports have slowed since the government implemented a consumption-based Goods and Services Tax (GST) in April.

In July 2015, Malaysia posted a  MYR 2.38 billion trade surplus.

Malaysia Trade Surplus Widens in August

Statistics Malaysia l Rida Husna |
10/7/2015 5:45:57 AM