Malaysia Trade Balance June 2020


Malaysia: Merchandise exports rebound in June

August 5, 2020

Merchandise exports soared 6.1% in annual and USD terms in June, rebounding solidly after May’s 28.6% dive amid the global lockdown to combat the coronavirus. In ringgit terms, exports jumped 8.8%, contrasting May’s 25.5% contraction. The rebound was driven by rising sales of manufactured and agricultural products, while mining sales dropped in June.

Meanwhile, merchandise imports plunged 8.0% on an annual basis and in USD terms in June (May: -33.2% yoy). As a result, the merchandise trade balance improved, recording a USD 4.9 billion surplus in June (June 2019: USD 2.5 billion surplus). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 32.1 billion surplus in June, compared to USD 29.8 billion surplus in May.

FocusEconomics Consensus Forecast panelists project merchandise exports to contract 11.8% and imports to decline 10.4% in 2020, with the trade surplus shrinking to USD 26.4 billion. In 2021, our panelists see exports and imports growing 6.9% and 6.8% respectively, with the trade surplus totaling USD 28.5 billion.

Author: Angela Bouzanis, Lead Economist

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Malaysia Trade Balance Chart

Malaysia Trade12m June 20 20 0

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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