Malaysia: Exports growth rebounds in October
December 6, 2013
Exports expanded 5.3% annually in October (September: -2.4%) and beat market expectations. According to the Department of Statistics, the expansion reflects higher shipments of petroleum products, liquefied natural gas, as well as electronics and electric products. Imports posted an even bigger turnaround, expanding 9.5% in October, which contrasted the 5.0% drop recorded in September.
The trade surplus was USD 2.6 billion in October and the 12-month moving sum of the trade balance fell from a USD 22.5 billion surplus to a USD 22.0 billion surplus.
FocusEconomics Consensus Forecast panelists expect exports to fall 1.8% in USD terms in 2013. Imports are expected to grow 0.2%, pushing the trade surplus to USD 25.4 billion. For 2014, the panel expects exports to grow 5.2%. With imports expected to rise 5.7% in 2014, panelists see the trade surplus widening to USD 26.0 billion.
Author: Carl Kelly, Economist