Malaysia: Exports growth accelerates in August
October 4, 2013
Exports expanded 7.2% annually in August (July: +4.3%), beating market expectations. According to the Department of Statistics, the reading reflected higher shipments of electronics and electric products, refined petroleum, and liquefied natural gas. Imports rose 8.8% in August, which was above the 6.9% rise recorded in July.
The trade surplus was USD 2.1 billion in August, prompting the 12-month moving sum of the trade balance to fall slightly to USD 21.9 billion from the USD 22.0 billion surplus tallied in July.
FocusEconomics Consensus Forecast panelists expect exports to grow -1.2% in USD terms in 2013. Imports are expected to grow 1.3%, pushing the trade surplus to USD 25.0 billion. For 2014, the panel expects exports to grow 6.6%. With imports expected to rise 6.5% in 2014, panelists see the trade surplus widening to USD 26.6 billion.
Author: Carl Kelly, Economist