Malaysia Trade Surplus Below Consensus in November
Malaysia's trade surplus increased to MYR 9.9 billion in November of 2017 from MYR 9.1 billion in the same month of the prior year but below market estimates of a MYR 10.9 billion surplus.
In November, sales increased by 14.4 percent from a year earlier to MYR 83.5 billion, following a 18.9 percent rise in October and above market consensus of a 13.9 percent growth. It was the thirteenth straight month of growth in outbound shipments, driven by electrical & electronic products (21 percent to MYR 31.7 billion, 38 percent of total exports); liquefied natural gas (7.5 percent to MYR 3.5 billion, 4.2 percent share); refined petroleum products (0.2 percent to MYR 4.4 billion, 5.3 percent share); timber and timber-based products (11.5 percent to MYR 2.1 billion, 2.5 percent share), and palm oil and palm oil-based products (2.7 percent to MYR 6.8 billion, 8.2 percent share).
Exports to the ASEAN countirs rose 18.3 percent, followed by those to Singapore (16.8 percent), the US (12.4 percent), the EU countries (12.4 percent), and China (3.3 percent).
Imports rose 15.2 percent to MYR 73.6 billion, after a 20.9 percent rise in the prior month while markets expected a 13.9 percent growth. It marked the twelfth straight month of increase in inbound shipments, as purchases increased for all categories. Imports of intermediate goods rose 13.8 percent to MYR 40.4 billion, driven by parts & accessories of capital goods, except transport equipment (14.4 percent); industrial supplies, processed (15.4 percent). Inbound shipments of capital goods grew by 12.2 percent to MYR 10.3 billion, mainly due to capital goods except transport equipment (22.3 percent). Purchases of consumption goods went up 6.6 percent to MYR 6.6 billion, led by food and beverages, processed mainly for house consumption (15.7 percent) and durables (11.3 percent).
In October 2017, the trade surplus stood at MYR 10.6 billion.
1/5/2018 11:39:28 AM