Malaysia Trade


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.

FocusEconomics Consensus Forecast panelists expect exports to rise 3.4% in USD terms in 2015. Imports are expected to decline 4.5% in 2015, pushing the trade surplus to USD 29.3 billion. For 2016, the panel expects exports to grow 5.3%. With imports expected to rise 4.9% in 2016, panelists see the trade surplus widening to USD 31.7 billion.

Author: Angela Bouzanis, Senior Economist

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Malaysia Trade Chart

Malaysia Trade12m November 2014

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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