Malaysia Trade Surplus Narrows in May


Malaysia reported a MYR 5.51 billion trade surplus in May of 2015, slightly down from MYR 5.65 billion a year earlier and matching market consensus, as imports fell more than exports.

Year-on-year, exports declined by 6.7 percent to MYR60.45 billion in May. Sales of all main commodities fell: LNG (-47.9 percent to MYR2.6 billion, accounting for 4.4 percent of total shipment); petroleum products (-28.3 percent to MYR3.80 billion, 6.3 percent share); crude petroleum (-22.1 percent to MYR2.3 billion, 3.8 percent share); palm oil and palm-based products (-7.3 percent to MYR5.3 billion, 8.8 percent share); natural rubber (-42.4 percent to MYR220.7 million, 0.4 percent share); electrical and electronics/E&E products (-0.6 percent to MYR21.1 billion, 34.9 percent share) and timber and timber-based products (-4.5 percent to MYR1.7 billion, 2.9 percent share). 

Compared to the previous year, exports to Japan fell the most by MYR 2.0 billion, followed by Australia (MYR -1.1 billion), Taiwan (MYR -527.6 million), Indonesia (MYR-475.5 million) and the US (MYR-269.2 million).                   
Imports decreased by 7.2 percent to MYR 53.49 billion, mainly due to a drop in purchases of intermediate goods and capital goods. Imports of intermediate goods, representing of 57.6 percent of total imports, fell by 8.4 percent  to MYR 31.7 billion, mainly due to industrial supplies, processed (MYR-1.5 billion, -11.1 percent) and fuel & lubricants, primary (MYR-1.2 billion, -41.7 percent). Purchases of capital goods, accounting for a 14.5 percent share, declined by 5.0 percent to 8.0 billion, due to a decrease in  capital goods (except transport equipment) (MYR-284.4 million, -4.1 percent) and transport equipment, industrial (MYR-131.4 million, -9.7 percent. In contrast, imports of consumption goods, accounting for 9.8 percent share, expanded by 27.2 percent to 5.4 billion, due to an increase of semi-durables (MYR747.5 million, +143.4 percent); food & beverages, processed, mainly for household consumption (MYR212.3 million, +17.9 percent) and non-durables (MYR18.8 million, +10.9 percent).

Compared to the preceding year, imports from the EU countries Singapore declined the most by MYR 674.5 million, followed by Singapore (MYR-672.1 million), United Arab Emirates (MYR-RM659.5 million), the US (MYR-641.7 million) and Australia (MYR-585.9 million).

In April 2015, Malaysia posted a  MYR 6.89 billion trade surplus.

Malaysia Trade Surplus Narrows in May


Statistics Malaysia l Rida Husna l rida@tradingeconomics.com
7/3/2015 6:08:42 AM