Malaysia: Exports rebound on higher demand for electronic goods
January 9, 2013
In November, exports rose 6.3% in USD terms over the same month the previous year, which contrasted the 1.0% drop observed in October. The reading marked, in fact, the largest monthly gain since August and overshot market expectations. According to the Department of Statistics, the improvement was mainly due to higher shipments for electric and electronic products - particularly to China - as well as for refined petroleum products. As a result, in the 12 months up to November, exports expanded 0.5% over the same period a year ago (October: +0.6% year-on-year).
Meanwhile, imports increased 7.4%, following the 8.1% rise recorded in October. Accordingly, imports grew 6.1% in annual terms in the last 12 months (October: +6.1% yoy).
Finally, the trade surplus reached USD 3.0 billion in November. As a result, the 12-month moving sum of the trade balance reached USD 30.9 billion in November, which was a notch above the USD 30.8 billion surplus recorded in October.
The government expects exports to expand 5.0% in 2013