Malaysia: Exports growth slows in September
November 7, 2014
Exports recorded a 3.9% annual expansion in September (August: +5.7% year-on-year). The increase came in below market expectations. According to the Department of Statistics, growth was mainly driven by an increase in exports of manufactured goods, particularly of electronics and electric products, as well as higher shipments of palm oil and liquefied natural gas. In contrast, exports of petroleum products and crude petroleum decreased. Meanwhile, imports decelerated notably from an 11.7% expansion in August to a 3.0% increase in September.
The trade surplus ballooned from USD 1.2 billion in August to USD 2.9 billion in September (September 2013: USD 2.6 billion). The figure marked the largest surplus in six months. The 12-month moving sum of the trade balance increased from a USD 27.5 billion surplus in August to USD 27.8 billion.
Author: Carl Kelly, Economist