Malaysia Trade


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.

FocusEconomics Consensus Forecast panelists expect exports to rise 3.5% in USD terms in 2014. Imports are expected to decline 0.5% in 2014, pushing the trade surplus to USD 31.3 billion. For 2015, the panel expects exports to grow 7.4%. With imports expected to rise 7.6% in 2015, panelists see the trade surplus widening to USD 33.3 billion.

Author:, Economist

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Malaysia Trade Chart

Malaysia Trade12m September 2014 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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