Malaysia: Exports growth moderates in June
August 6, 2014
Exports recorded a 4.4% annual expansion in June (May: +8.3% year-on-year). The increase came in below market expectations and marked the lowest growth rate in three months. According to the Department of Statistics, the print reflects higher shipments of manufactured goods, including electronics and electric products. Exports of liquefied natural gas and petroleum products also were up. Shipments of agricultural products such as palm oil grew, although to a lesser extent. Meanwhile, imports increased 5.7% in June, which followed the 4.1% growth registered in May.
The trade surplus narrowed from USD 1.8 billion in May to USD 1.2 billion in June (June 2013: USD 1.4 billion). The 12-month moving sum of the trade balance decreased slightly from a USD 28.1 billion surplus in May to USD 28.0 billion.
Author: Carl Kelly, Economist