Malaysia Trade Surplus Narrows In April
Malaysia's trade surplus fell to MYR 8.8 billion in April of 2017 from MYR 9.1 billion in the same month the prior year, as exports rose less than imports.
In April, sales increased 20.6 percent from a year earlier to MYR 74 billion, following a 24.1 percent growth in March. It was the sixth straight month of growth, driven by electrical & electronic products (22.2 percent), palm oil and palm based products (24.1 percent), liquefied natural gas (50.2 percent), crude petroleum (65.7 percent), natural rubber (93 percent), and timber and timber-based products (1 percent). Exports soared to China (50.6 percent), followed by those to the EU countries (26.5 percent), Singapore (15.8 percent), and the ASEAN Countries (14.9 percent).
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Imports rose 24.7 percent to MYR 65.2 billion, slower than a 39.4 percent rise in the prior month. It was the fifth consecutive month of increase, as purchases jumped for all categories: intermediate goods (29.2 percent, due to industrial supplies, processed: 16 percent; parts & accessories of capital goods, except transport equipment: 33 percent, fuel & lubricants, primary: 228.1 percent); capital goods (14.8 percent, due to an increase in capital goods except transport equipment: 22.6 percent; and consumption goods (1 percent), due to an increase in food and beverages, processed mainly for house consumption (4 percent), food and beverages, primary, mainly for household consumption (6.9 percent), and durables: 6.4 percent. In contrast imports of non-durable goods decreased 5.7 percent.
In March 2017, trade surplus came in at MYR 5.4 billion.