Malaysia: Exports improve and trade surplus widens in November
January 7, 2015
Exports recorded a 2.3% annual contraction in November. The result marked an improvement from October’s 6.1% drop, which had marked the largest decrease since February 2013 and beat market expectations. According to the Department of Statistics, the improvement was mainly driven by a rise in exports of electronics and electric products, crude petroleum, as well as exports of timber and timber-based products. In contrast, exports of petroleum products and liquefied natural gas tallied decreases. Meanwhile, imports swung from a 5.9% expansion in October to a 4.2% contraction in November.
The trade surplus rose from a USD 350 million surplus in October to a USD 3.3 billion surplus in November (November 2013: USD 3.1 billion). The figure marked the largest surplus since March 2012. The 12-month moving sum of the trade balance increased from a USD 25.4 billion surplus in October to a USD 25.7 billion surplus in November.