Malaysia: Exports growth slows to 10-month-low in July
September 5, 2014
Exports recorded a 0.9% annual expansion in July (June: +4.5% year-on-year). The increase came in below market expectations and marked the slowest growth rate since September of last year. According to the Department of Statistics, the modest result reflects that a decline in shipments of electronics and electric products as well as liquefied natural gas compensated for an increase in shipments of petroleum products and agricultural products such as palm oil. Meanwhile, imports decreased 0.4% in July, which contrasted the 5.7% growth registered in June.
The trade surplus narrowed from USD 1.2 billion in June to USD 1.1 billion in July (July 2013: USD 900 million). The 12-month moving sum of the trade balance increased slightly from a USD 28.0 billion surplus in June to USD 28.2 billion.
Author: Carl Kelly, Economist