Malaysia: Exports fall in July at the fastest pace in 21 months
September 6, 2016
Exports in USD terms fell 8.7% annually in July following the 5.1% contraction tallied in June. The drop was more severe than analysts had expected and marked the largest decrease in the last 21 months of contraction, as global demand for key Malaysian exports dwindled. According to the National Statistical Institute, the largest decrease was recorded in natural rubber exports. Meanwhile, imports declined 8.2% in July, which was a much sharper contraction than the 0.6% fall recorded in the previous month.
The trade balance shrank from a USD 1.3 billion surplus in June to a USD 480 million surplus in July. The 12-month moving sum of the trade surplus edged down from USD 22.8 billion to USD 22.6 billion in July.
Author: Luis Lopez Vivas, Economist