Malaysia Trade March 2016

Malaysia

Malaysia: Exports in March contract again

May 6, 2016

Exports in USD terms fell 10.7% annually in March, following the 7.5% contraction tallied in February. The contraction was more severe than analysts had expected. The result marked the 17th consecutive month of contraction, as global demand for key Malaysian exports dwindles. Meanwhile, imports declined 15.8% in March, which was also a more severe contraction than the 12.0% fall recorded in the previous month. The strong USD is decreasing the value of Malaysian exports registered in Malaysian ringgits. According to the National Statistical Institute, liquefied natural gas products witnessed the most severe contraction, followed by crude petroleum exports.

The trade balance widened from a USD 1.8 billion surplus in February to a USD 2.7 billion surplus in March. The 12-month moving sum of the trade balance increased from USD 23.2 billion to USD 23.8 billion in March.

FocusEconomics Consensus Forecast panelists expect exports to fall 2.6% in USD terms in 2016. Imports are expected to decline 2.6% in 2016, thus pushing the trade surplus to USD 24.6 billion. For 2017, the panel expects exports to grow 6.4%. With imports expected to rise 5.8% in 2017, panelists see the trade surplus rising to USD 26.9 billion.


Author:, Economist

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Malaysia Trade Chart


Malaysia Trade12m March 2016

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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