Malaysia Trade


Malaysia: Exports collapse and trade surplus tumbles in October

December 5, 2014

Exports recorded a 6.0% annual contraction in October (September: +3.9% year-on-year). The result marked the biggest drop since February 2013 and was more severe than what the market had expected. According to the Department of Statistics, the decline was mainly driven by a drop in exports of petroleum products, electronics and electric products, rubber, and palm oil. In contrast, exports of LNG and crude petroleum tallied increases. Meanwhile, imports accelerated from a 3.0% increase in September to a 5.9% expansion in October.

The trade surplus tumbled from a USD 2.9 billion surplus in September to a USD 362 million surplus in October (October 2013: USD 2.7 billion). The figure marked the smallest surplus in a year and a half. The 12-month moving sum of the trade balance decreased from a USD 27.8 billion surplus in September to a USD 25.4 billion surplus in October.

FocusEconomics Consensus Forecast panelists expect exports to rise 3.5% in USD terms in 2014. Imports are expected to decline 0.5% in 2014, pushing the trade surplus to USD 30.8 billion. For 2015, the panel expects exports to grow 3.1%. With imports expected to rise 1.7% in 2015, panelists see the trade surplus widening to USD 34.8 billion.

Author:, Economist

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Malaysia Trade Chart

Malaysia Trade12m October 2014

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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