Malaysia Trade December 2015

Malaysia

Malaysia: Exports contraction moderates in December

February 5, 2016

Exports in USD terms fell 17.6% in annual terms in December, following the 18.6% contraction tallied in November. 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, and the MYR loses ground against the USD. Meanwhile, imports declined 16.2% in December, which was a slightly less severe contraction than the 16.5% fall recorded in the previous month.

The trade balance narrowed from a USD 2.3 billion surplus in November to a USD 1.8 billion surplus in December. The 12-month moving sum of the trade balance fell from USD 24.6 billion in November to USD 23.9 billion in December. The 12-month figure has been falling steadily since the middle of last year and indicates that declining oil and gas exports have not been completely offset by manufacturing exports.

FocusEconomics Consensus Forecast panelists expect exports to fall 4.6% in USD terms in 2016. Imports are expected to decline 4.6% in 2016, thus pushing the trade surplus to USD 24.2 billion. For 2017, the panel expects exports to grow 7.4%. With imports expected to rise 7.6% in 2017, panelists see the trade surplus falling to USD 25.8 billion.


Author:, Economist

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Malaysia Trade Chart


Malaysia Trade12m December 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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