Malaysia: Trade surplus widens as imports slow
December 9, 2011
In October, exports rose 14.5% over the same month last year. The reading was below the previous month's 17.3% increase, but still exceeded market expectations. Moreover, the print represented the 23rd consecutive month of double-digit export growth. According to Statistics Malaysia, exports were supported by chemicals and chemical products, as well as manufactured metal and rubber products, which were partially offset by lower shipments of electrical and electronic goods. Moreover, growth in trade was shored up by regional markets in Asia. Meanwhile, imports slowed sharply from a 13.6% expansion in September to a 3.5% rise in October. As a result, the trade surplus widened from USD 3.1 billion in September to USD 4.2 billion in October. Analysts reckon that the relatively strong growth in exports seen so far this year may ease as the shadow of global recession curbs demand in the coming months.