Malaysia's trade surplus slumped 38.9 percent to MYR 6.0 billion in June of 2018 from MYR 9.9 billion in the same month of the prior year and far below market estimates of a MYR 10.16 billion surplus. It is the smallest trade surplus since May last year, mainly due to a surge in imports.
In June sales increased by 7.6 percent from a year earlier to MYR 78.7 billion from a 3.4 percent gain in May and below market consensus of a 11.5 percent growth. Sales grew for: electrical & electronic products (6.9 percent to MYR 29.9 billion, 38.0 percent of total exports); refined petroleum products (40.6 percent to MYR 5.1 billion, 6.5 percent share) and crude petroleum (25.3 percent to MYR 2.4 billion, 3.0 percent share).
In contrast outbound shipments fell for: palm oil-based products (-20.4 percent to MYR 4.9 billion, 6.3 percent share); liquefied natural gas (-31.2 percent to MYR 2.7 billion, 3.5 percent share); natural rubber (-5.6 percent to MYR 310.3 million, 0.4 percent share), and timber and timber based products (-0.8 percent to MYR 1.7 billion, 2.2 percent share).
Exports rose to China (16.9 percent), followed by those to the ASEAN countries (7.4 percent); the EU countries (5.6 percent). By contrast exports fell to the US (-1.9 percent) and Singapore (-0.3 percent).
Imports surged 14.9 percent year-on-year to MYR 72.6 billion in June of 2018 from a 0.1 percent rise in the prior month, as capital goods jumped by 14.1 percent to MYR 9.4 billion, mainly due to a rise in transport equipment, industrial (44.6 pct) and capital goods except transport equipment went up (10.3 pct). Also, sales of intermediate goods increased 3.1 percent to MYR 39.4 billion, driven by fuel & lubricant, primary (51.5 pct); fuel & lubricants, processed, others (30.8 pct); parts & accessories of transport equipment (17.3 pct); industrial supplies, processes (12.6 pct) while sales of parts and accessories of capital goods except transport equipment declined (-16.9 pct). In addition, purchases rose for consumption goods (4.9 pct to MYR 5.9 billion), led by durables (23.0 pct), non-durables (9.6 pct),
In May the trade surplus stood at MYR 8.1 billion.
Considering the first half of the year, the trade surplus increased sharply to MYR 60.6 billion from MYR 42.94 billion in the same period of 2017.
8/3/2018 10:44:06 AM