Malaysia Trade June 2016


Contraction in exports eases in June

Exports in USD terms fell 5.1% annually in June following the 12.2% contraction tallied in May. The result marked the 20th consecutive month of contraction, as global demand for key Malaysian exports dwindles and the USD appreciates. Meanwhile, imports declined 0.6% in June, which was a much softer contraction than the 8.7% fall recorded in the previous month. According to the National Statistical Institute, the largest decrease was recorded in palm oil and palm-based products.

The trade balance widened from a USD 0.8 billion surplus in May to a USD 1.3 billion surplus in June. The 12-month moving sum of the trade balance decreased from USD 23.5 billion to USD 22.8 billion in June.

FocusEconomics Consensus Forecast panelists expect exports to fall 2.6% in USD terms in 2016. Imports are also expected to decline 2.6% in 2016, thus pushing the trade surplus to USD 24.6 billion. For 2017, the panel expects exports to grow 6.4%. With imports expected to rise 5.8% in 2017, panelists see the trade surplus rising to USD 26.9 billion.

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Malaysia Trade Chart

Malaysia Trade12m June 2016 0

Note: 12-month trade balance in USD billion and annual variation of the 12-month sum of exports and imports.
Source: Department of Statistics Malaysia (DSM) and FocusEconomics calculations.

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