Malaysia Trade Surplus Narrows To 3-Month Low
Malaysia reported a MYR 8.72 billion trade surplus in December of 2016, compared to a MYR 8.25 billion surplus a year earlier while market expected a MYR 9.30 billion surplus. It was the smallest surplus since September, as imports rose more than exports.
Year-on-year sales increased by 10.7 percent to MYR 75.6 billion, following a 7.8 percent rise in November and above market consensus of a 9.4 percent growth. It was the second straight month of, as sales went up for: electrical & electronic products (9.0 percent to MYR 27.0 billion, 35.8 percent of total exports), palm oil and palm based products (+24.5 percent to MYR 6.4 billion, 8.5 percent share), crude petroleum (15.9 percent to MYR 2.5 billion, 3.3 percent share), natural rubber (39.0 percent to MYR 426.9 million, 0.6 percent share) and timber and timber-based products (4.5 percent to MYR 2.1 billion, 2.7 percent share). In contrast, outbound shipments fell slightly for LNG (-0.5 percent to MYR 3.8 billion, 5.0 percent share).
Exports increased to China (22.2 percent), the US (+1.7 percent) and the EU countries (5.8 percent).
Imports went up 11.5 percent to MYR 66.8 billion, compared to a 11.2 percent growth in the preceding month and higher than market expectations of a 9.0 percent increase. It was also the second consecutive month of rise, as purchases went up for all categories: intermediate goods (9.8 percent, due to industrial supplies, processed: 14.2 percent; parts & accessories of capital goods except transport equipment: 8.1 percent and fuel & lubricants, processed, others: +58.8 percent and fuel & lubricants, primary: 78.7 percent), capital goods (13.4 percent, due to an increase in capital goods except transport equipment: 13.8 percent) and consumption goods (9.6 percent, due to an increase in food & beverages, primary, mainly for household consumption: 15.6 percent and durables: 15.6 percent).
In November 2016, trade surplus stood at MYR 9.03 billion.
2/8/2017 7:37:39 AM