Malaysia: Exports surge in April reaching over two-year high
June 6, 2014
Exports recorded a substantial 11.1% annual expansion in April (March: +3.1% year-on-year). The increase came in above market expectations and marked the highest growth rate since February 2012. According to the Department of Statistics, the print reflects higher shipments of petroleum products, liquefied natural gas, and electronics and electric products. Meanwhile, imports contracted 1.6% in April, which was up from the 4.3% decline registered in March.
The trade surplus narrowed from USD 3.0 billion in March to USD 2.7 billion in April (April 2013: USD 0.3 billion). The 12-month moving sum of the trade balance increased from a USD 25.0 billion surplus in March to a USD 27.4 billion surplus in April.
Author: Carl Kelly, Economist