Malaysia: Exports surge in December
February 7, 2014
Exports surged to an 8.0% expansion annually in December (November: +2.1%), which overshot market expectations. According to the Department of Statistics, the expansion reflects higher shipments of electronics and electric products, petroleum products and liquefied natural gas. Imports also posted a significant acceleration, expanding 8.4% in December, which was well above the 1.7% increase recorded in November.
The trade surplus was USD 2.9 billion in December and the 12-month moving sum of the trade balance increased slightly from a USD 22.1 billion surplus in November to a USD 22.2 billion surplus.
FocusEconomics Consensus Forecast panelists expect exports to rise 7.2% in USD terms in 2014. Imports are expected to grow 7.1% in 2014, pushing the trade surplus to USD 31.0 billion. For 2015, the panel expects exports to grow 5.8%. With imports expected to rise 5.1% in 2015, panelists see the trade surplus widening to USD 34.3 billion.
Author: Carl Kelly, Economist