Malaysia Trade


Malaysia: Exports contract at fastest pace in over five years in February

April 7, 2015

Exports declined 16.7% in annual terms in February, which was down from the 8.2% contraction tallied in January. The result undershot market expectations and marked the lowest reading in over five years. According to the Department of Statistics, the deterioration in exports was mainly driven by a decline in shipments of refined petroleum products, liquefied natural gas, rubber and palm oil. Meanwhile, imports declined 7.3% in February, which as a less pronounced drop than the 12.5% decline recorded in the previous month.

The trade balance fell sharply from a USD 2.5 billion surplus in January to a USD 1.3 billion surplus in February (February 2014: USD 3.2 billion). The 12-month moving sum of the trade balance ticked down from a USD 25.9 billion surplus in January to a USD 24.0 billion surplus in February.

FocusEconomics Consensus Forecast panelists expect exports to rise 3.4% in USD terms in 2015. Imports are expected to decline 4.5% in 2015, pushing the trade surplus to USD 29.3 billion. For 2016, the panel expects exports to grow 5.3%. With imports expected to rise 4.9% in 2016, panelists see the trade surplus widening to USD 31.7 billion.

Author:, Economist

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Malaysia Trade Chart

Malaysia Trade12m February 2015

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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