Malaysia Trade July 2016

Malaysia

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.

FocusEconomics Consensus Forecast panelists expect exports to fall 9.0% in USD terms in 2016. Imports are expected to decline 9.9% in 2016, thus pushing the trade surplus to USD 23.5 billion. For 2017, the panel expects exports to grow 4.6%. With imports expected to rise 3.9% in 2017, panelists see the trade surplus rising to USD 25.7 billion.


Author:, Economist

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Malaysia Trade12m July 2016 0

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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