Malaysia Trade Surplus Widens Sharply in April
Malaysia's trade surplus jumped 50.9 percent to MYR 13.1 billion in April of 2018 from MYR 8.7 billion in the same month of the prior year and beating market estimates of a MYR 12.2 billion surplus, as exports rose more than imports.
In April sales jumped by 14 percent from a year earlier to MYR 84.2 billion from a 2.2 percent rise in March and above market consensus of a 6.3 percent growth. Sales grew for: electrical & electronic products (21.2 percent to MYR 31.8 billion, 37.7 percent of total exports); crude petroleum (22.7 percent to MYR 3.6 billion, 2.9 percent share); refined petroleum products (38.9 percent to MYR 5.2 billion, 6.2 percent share); timber and timber based products (1.6 percent to MYR 1.9 billion, 2.3 percent share), and palm oil-based products (0.2 percent to MYR 6.1 billion, 7.2 percent share). In contrast outbound shipments fell for : natural rubber (-42.6 percent to MYR 316 million, 0.4 percent share), and liquefied natural gas (-12.5 percent to MYR 2.8 billion, 3.4 percent share).
Exports to China went up (22 percent), followed by those to the EU countries (19.5 percent); the ASEAN countries (13.67 percent); the US (7.5 percent), and Singapore (3.7 percent).
Imports surged 9.1 percent year-on-year to MYR 71.2 billion in April of 2018, recovering from a 9.6 percent drop in the prior month, as capital goods increased by 4.8 percent to MYR 8.4 billion, mainly due to a rise in transport equipment, industrial (166.6 pct) while purchases of capital goods except transport equipment fell (-4.3 pct). On the other hand, sales of intermediate goods dropped 11.9 percent to MYR 33.8 billion, dragged by parts and accessories of capital goods except transpport equipment (-36.8 pct) while sales rose for fuel & lubricants, processed, others (78.5 pct) and parts & accessories of of transport equipment (16.4 pct). Also, purchases declined for consumption goods (-1.8 pct to MYR 5.6 billion), led by semi-durables (-8.6 pct), non-durables (-5.1 pct).
In March the trade surplus stood at MYR 14.7 billion.
Considering January to April 2018, the trade surplus was MYR 46.5 billion with exports rising by 7.8 percent compared to the same period a year earlier and imports increasing by 1.6 percent.
6/5/2018 5:31:22 AM