Malaysia: Exports plummet in April
June 5, 2015
Exports fell 20.2% in annual terms in April, following the 9.0% contraction tallied in March and marking the sixth consecutive month of decline. The result undershot market expectations of a milder contraction. Meanwhile, imports declined 18.6% in April, which was a significantly more pronounced fall compared to the 5.9% decline recorded in the previous month. The Department of Statistics noted that liquefied natural gas products saw the biggest yearly decline in exports, followed by electrical and electronic products and petroleum and palm oil products.
The trade balance fell from a USD 2.1 billion surplus in March to a USD 1.9 billion surplus in April (April 2014: USD 2.7 billion). The 12-month moving sum of the trade balance ticked down from a USD 23.2 billion surplus in March to a USD 22.4 billion surplus in April.
Author: Robert Hill, Economist