Malaysia's trade surplus shrank to MYR 6.5 billion in November 2019 from MYR 8.5 billion in the same month of 2018 and against market estimates of MYR 10.8 billion. This was the smallest trade surplus since August 2018, as exports fell more than imports. Exports dropped by 5.5 percent year-on-year to MYR 80.8 billion, worse than market consensus of a 4.4 percent fall, as sales fell mostly for electrical & electronic products (-11.6%); palm oil & palm oil-based products (-2.6%); refined petroleum products (-19%) and crude oil (-23.4%). Among major trading partners, sales dropped to Singapore (-12.5%), due to electrical & electronic products (-23.4%). Imports fell by 3.6 percent year-on-year to MYR 74.3 billion, below market expectations of a 5 percent decline, on lower purchases of capital goods (-4.3%) while those of intermediate goods (1.8%) and consumption goods (1.9%) rose. Among major trade partners, purchases fell from Singapore (-9.1%), mainly due to refined petroleum (-21.2%). Balance of Trade in Malaysia averaged 3553.53 MYR Million from 1970 until 2019, reaching an all time high of 17325.83 MYR Million in October of 2019 and a record low of -2880.61 MYR Million in June of 1997. source: Department of Statistics, Malaysia
Balance of Trade in Malaysia is expected to be 16500.00 MYR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Malaysia to stand at 11200.00 in 12 months time. In the long-term, the Malaysia Balance of Trade is projected to trend around 12200.00 MYR Million in 2020, according to our econometric models.