Malaysia Trade Surplus Largest in 4 Months
Malaysia reported a MYR 8.51 billion trade surplus in August of 2016, down from MYR 10.16 billion surplus a year earlier but beating market consensus of MYR 7.0 billion. It was the largest trade surplus since April as imports rose more than exports.
Year-on-year, sales unexpectedly rose 1.5 percent to MYR 67.60 billion, following a 5.3 percent decrease in July while market estimated a 1.6 percent drop. Sales went up for: palm oil and palm based products (+19.9 percent to MYR 6.7 billion, 19.7 percent share), electrical & electronic products (+3.0 percent to MYR 25.8 billion, 38.2 percent share), crude petroleum (+13.9 percent) and timber and timber-based products (+7.4 percent). In contrast, outbound shipments fell for: LNG (-38.9 percent), refined petroleum products (-12.09 percent to MYR 3.2 billion, 4.7 percent share) and natural rubber (-36.7 percent).
Imports increased by 4.9 percent to MYR 59.10 billion, compared to a 4.8 percent drop in the preceding month and consensus of a 2.9 percent rise. Purchases went up for all categories: intermediate goods (+6.1 percent to MYR 34.5 billion, 58.4 percent share, largely due to industrial supplies, processed: +16.9 percent) and parts & accessories of capital goods: +2.1 percent), capital goods (+9.0 percent to MYR 8.0 billion, 13.6 percent share, due to both capital goods except for transport equipment: +5.5 percent and transport equipment, industrial: +54.8 percent) and consumption goods (+10.4 percent to MYR 5.3 billion, 9.0 percent share, due to food & beverages processed, mainly for household: +15.8 percent and durables: +15.3 percent).
Exports rose to the US (+5.2 percent to MYR 6.9 billion) and Singapore (+3.2 percent to MYR 10.0 billion). In contrast, sales dropped to China (-1.3 percent to MYR 9.3 billion), Japan (-11.8 percent to MYR 5.2 billion) and Thailand (-11.2 percent to MYR 3.7 billion).
In July 2016, trade surplus stood at MYR 1.90 billion.
10/7/2016 11:45:44 AM