Malaysia Trade


Malaysia: Exports contraction moderates in October

November 7, 2015

Exports fell 18.5% in annual terms in September, following the 19.5% contraction tallied in August. Although the contraction was less severe than analyst had expected, the result marks 12 consecutive months of contraction, as global demand for key Malaysian exports dwindles. Meanwhile, imports declined 17.9% in September, which was a less severe contraction than the 27.4% fall 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 narrowed from a USD 2.5 billion surplus in August to a USD 2.2 billion surplus in September. The 12-month moving sum of the trade balance fell from USD 23.6 billion to USD 23.0 billion in September. 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 12.5% in USD terms in 2015. Imports are expected to decline 13.6% in 2015, thus pushing the trade surplus to USD 24.3 billion. For 2016, the panel expects exports to grow 0.5%. With imports expected to rise 0.3% in 2016, panelists see the trade surplus falling to USD 24.7 billion.

Author:, Economist

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Malaysia Trade Chart

Malaysia Trade12m September 2015 1

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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