Malaysia: Growth in exports slow in November
January 10, 2014
Exports expanded 2.1% annually in November (September: +5.3%), which undershot market expectations. According to the Department of Statistics, the expansion reflects higher shipments of petroleum products, liquefied natural gas, and electronics and electric products. Imports posted a significant slowdown, expanding 1.7% in November, which was well under the 9.5% increase recorded in October.
The trade surplus was USD 3.0 billion in November and the 12-month moving sum of the trade balance increased slightly from a USD 22.0 billion surplus in October to a USD 22.1 billion surplus.
FocusEconomics Consensus Forecast panelists expect exports to fall 6.2% in USD terms in 2014. Imports are expected to grow 6.1% in 2014, pushing the trade surplus to USD 5.0 billion. For 2015, the panel expects exports to grow 10.8%. With imports expected to rise 16.6% in 2015, panelists see the trade surplus widening to USD 2.9 billion.
Author: Carl Kelly, Economist