Malaysia: Exports return to positive growth after five straight periods of contraction
September 6, 2013
Exports expanded 4.3% in July (June: -5.6%), marking the end of a streak of five consecutive negative readings and beating market expectations. According to the Department of Statistics, the reading reflected higher shipments of liquefied natural gas, electronics and electric products, and crude petroleum. Imports rose 6.0% in July; the increase was above the 2.7% rise recorded in June.
The trade surplus totaled USD 0.9 billion in July, which prompted the 12-month moving sum of the trade balance to fall to USD 22.0 billion, slightly less than the USD 22.2 billion surplus tallied in June.
FocusEconomics Consensus Forecast panelists expect exports to grow 2.6% in USD terms in 2013. Imports are expected to grow 4.5%, pushing the trade surplus to USD 27.7 billion. For 2014, the panel expects exports to grow 6.9%. With imports expected to rise 7.1%, they see the trade surplus widening to USD 28.3 billion.
Author: Armando Ciccarelli, Head of Data Solutions