Malaysia: Exports accelerate in February, trade surplus widens
April 4, 2014
Exports accelerated in February to a 5.1% annual expansion (January: +2.8% year-on-year). The increase was in line with market expectations. According to the Department of Statistics, the print reflects higher shipments of electronics and electric products, liquefied natural gas and chemical products. Meanwhile, imports rebounded from a 1.7% contraction in January to a 2.5% expansion in February.
The trade surplus widened to USD 3.2 billion in February (February 2012: USD 2.7 billion), marking the largest surplus since March 2012. The 12-month moving sum of the trade balance increased slightly from a USD 23.1 billion surplus in January to a USD 23.6 billion surplus in February.
FocusEconomics Consensus Forecast panelists expect exports to rise 7.2% in USD terms in 2014. Imports are expected to grow 7.1% in 2014, pushing the trade surplus to USD 31.0 billion. For 2015, the panel expects exports to grow 5.8%. With imports expected to rise 5.1% in 2015, panelists see the trade surplus widening to USD 34.3 billion.
Author: Carl Kelly, Economist