Malaysia: Exports contraction intensifies in August
October 7, 2015
Exports fell 19.5% in annual terms in August, following the 13.5% contraction tallied in July. The result undershot market expectations of a starker contraction. Meanwhile, imports declined 27.4% in August, which was a deterioration compared to the 11.5% decline recorded in the previous month. The Department of Statistics noted that exports in crude petroleum products, as well as liquefied natural gas, declined over the previous month.
The trade balance increased from a USD 0.6 billion surplus in July to a USD 2.5 billion surplus in August, the highest figure in seven months (January 2015: USD 2.5 billion). The 12-month moving sum of the trade balance climbed from a USD 22.3 billion surplus in July to a USD 23.6 billion surplus in August.
Author: Robert Hill, Economist