Malaysia Trade Surplus Widens in September

Malaysia reported a MYR9.69 billion trade surplus in September of 2015, up from MYR9.33 billion a year earlier but below market consensus, as exports and imports grew faster than expected.

Year-on-year, exports increased by 8.8 percent to MYR70.16 billion in September, the fastest growth since May 2014, following a 4.1 percent rise in August. Sales rose for: electrical & electronic products (+13.6 percent to MYR26.10 billion, accounting for 37.2 percent of total exports), timber and timber-based products (+14.5 percent to MYR2.0 billion, 2.8 percent share) and natural rubber (+20.1 percent to MYR367.70 million). In contrast, outbond shipments declined for: LNG (-33.3 percent to MYR3.40 billion, 4.8 percent share), refined petroleum products (-22.0 percent to MYR3.30 billion, 4.7 percent share), crude petroleum (-12.2 percent to MYR2.5 billion, 3.6 percent share) and palm oil and palm-based products (-3.3 percent to MYR6.0 billion, 8.6 percent share).

Compared to the previous year, exports rose to the EU countries (+MYR1.4 billion), China (+MYR1.0 billion), the US (+ MY933.5 million), Singapore (+MYR923.5 million) and the Philippines (+MYR618.0 million).

Imports rose by 9.6 percent to MYR60.47 billion, reversing from a 6.1 percent drop in the preceding months. Inbound shipments of capital and consumption goods increased while those of intermediate goods dropped. Purchases of capital goods grew 29.9 percent to MYR9.0 billion, representing 14.8 percent of total imports. The rise was mainly contributed by capital goods except transport equipment (+MYR1.7 billion, 27.0 percent share) and transport equipment, industrial (+MYR360.3 million, 61.2 percent share). Purchases of consumption goods also rose 43.2 percent to MYR5.7 billion, accounting for 9.4 percent share). The main components attributing to the growth were semi durables (+MYR568.9 million), food & beverages, processed, mainly for household (+MYR404.6 million) and non-durables (+MYR383.8 million). In contrast, imports of intermediate goods fell by 6.5 percent to MYR32.7 billion, accounting for 54.0 percent share. The decline was mainly due to industrial supplies, processed (-MYR1.5 billion), fuel & lubricants, primary (-MYR1.1 billion) and fuel & lubricants, processed, others (-MYR998.4 million).

In August 2015, Malaysia posted a  MYR 10.19 billion trade surplus.

Malaysia Trade Surplus Widens in September

Statistics Malaysia l Rida Husna |
11/6/2015 4:48:20 AM