Malaysia: Exports continue to fall in May
July 3, 2015
Exports fell 15.6% in annual terms in May, following the 20.2% contraction tallied in April. The result overshot market expectations of a starker contraction. Meanwhile, imports declined 16.0% in May, which was a milder fall compared to the 18.5% decline recorded in the previous month. The Department of Statistics noted that liquefied natural gas products saw the biggest yearly decline in exports, followed by refined petroleum products and crude petroleum products.
The trade balance inched down from a USD 1.9 billion surplus in April to a USD 1.5 billion surplus in May (May 2014: USD 1.8 billion). The 12-month moving sum of the trade balance ticked down from a USD 22.4 billion surplus in April to a USD 22.2 billion surplus in May.
Author: Robert Hill, Economist