Malaysia: Exports rebound in September
November 9, 2012
In September, exports rose 4.2% in USD terms over the same month last year, which contrasted the 8.9% drop observed in August (previously reported: -8.8% year-on-year). In addition, the print marked the largest increase since February and overshot market expectations. According to the Department of Statistics, the improvement was mainly due to higher shipments for petroleum products as well as for electronic goods. As a result, in the 12 months up to September, exports rose 2.1% over the same period the previous year (August: +3.2% yoy). Meanwhile, imports expanded 11.3%, contrasting the 1.9% drop recorded in August. Accordingly, imports grew 5.7% in annual terms in the last 12 months (August: +6.0% yoy). The trade surplus reached USD 2.2 billion in September. As a result, the 12-month moving sum of the trade balance reached USD 32.3 billion in September, which was smaller than the USD 33.3 billion surplus recorded in August.