Malaysia: Export growth surges to an over four-year high in January
March 3, 2017
Exports in USD terms grew a robust 12.0% annually in January, which followed December’s 6.7% expansion and marked the fastest expansion since February 2012. Similarly, year-on-year exports to Malaysia’s top three trading partners—China, Singapore and the European Union—were strong in January and recorded double-digit increases.
According to the National Statistical Institute, January’s expansion was broad-based as it reflected increases in exports of electronic products, natural rubber, palm oil and palm-based products and crude oil, among other categories. Imports also increased in January, growing at the fastest pace in four years (+14.4% year-on-year).
The trade balance narrowed from a USD 2.1 billion surplus in December to a USD 1.0 billion surplus in January. The 12-month moving sum of the trade surplus was stable at December’s USD 21.0 billion in January—the lowest figure since June 2004.
Author: Luis Lopez Vivas, Economist