Malaysia: Exports fall for third straight month in April
June 7, 2013
In April, exports fell for the third consecutive month and declined 3.0% in USD terms over the same month last year. The reading came in above the 4.9% decline observed in March but below market expectations. According to the Department of Statistics, the result reflected lower shipments of mineral fuels, inedible crude materials, machinery and transport equipment as well as manufactured goods. As a result, in the 12 months up to April, exports decreased 1.6% over the same period last year (March: -1.5% year-on-year).
Meanwhile, imports rose 9.6% in April, which was above the 5.2% increase recorded in March. Accordingly, imports grew 5.5% in annual terms in the last 12 months (March: +5.2% yoy).
Finally, the trade surplus reached USD 310 million in April, prompting the 12-month moving sum of the trade balance to fall to USD 24.2 billion, down from the USD 26.4 billion surplus tallied in March.
FocusEconomics Consensus Forecast panellists expect exports to grow 4.9% in USD terms in 2013, while the trade surplus will reach USD 31.1 billion. For 2014, the panel expects exports to grow 8.4%, while the trade surplus will widen to USD 31.4 billion.