Malaysia: Exports contract again in February
April 6, 2016
Exports in USD terms fell 7.5% annually in February, following the 21.3% contraction tallied in January. The contraction was less severe than analysts had expected. The result marks 16 consecutive months of contraction, as global demand for key Malaysian exports dwindles. Meanwhile, imports declined 12.0% in February, which was also a less severe contraction than the 16.4% fall recorded in the previous month.
The trade balance widened from a USD 1.2 billion surplus in January to a USD 1.8 billion surplus in February. The 12-month moving sum of the trade balance increased from USD 22.7 billion to USD 23.2 billion in February.
Author: Robert Hill, Economist