Malaysia Trade Balance August 2021


Malaysia: Merchandise exports growth picks up pace in August

October 4, 2021

Merchandise exports grew 17.1% year-on-year in USD terms in August, above July’s 6.5% increase. Similarly, exports in ringgit terms expanded 18.4% (July: +5.0% yoy). August’s upturn was largely attributed to rebounding exports of electrical and electronic products. Meanwhile, merchandise imports rose at a softer rate of 11.3% year-on-year in USD terms in August (July: +25.7% yoy), the slowest growth since January. In ringgit terms imports grew 12.5% (July: +23.9% yoy).

As a result, the merchandise trade balance improved from the previous month, recording a USD 5.0 billion surplus in August (July 2021: USD 3.3 billion; August 2020: USD 3.5 billion surplus). Similarly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 56.4 billion surplus in August compared to the 54.8 billion surplus in July.

FocusEconomics Consensus Forecast panelists project merchandise exports to grow 20.8% and imports to increase 21.1% in 2021, with the trade surplus rising to USD 52.7 billion. In 2022, our panelists see exports and imports expanding 6.1% and 7.7% respectively, with the trade surplus totaling USD 52.2 billion.


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Malaysia Trade Balance Chart

Malaysia Trade12m August 2021

Note: 12-month trade balance in USD billion and annual variation of the 12-month sum of exports and imports.
Source: Department of Statistics Malaysia (DSM) and FocusEconomics calculations.

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