Malaysia's trade surplus increased to MYR 11.1 billion in February of 2019 from MYR 9.0 billion in the same month of the prior year and beating market expectations of a MYR 10.4 billion surplus. Exports went down 5.3 percent to MYR 66.6 billion, missing market consensus of a 1.4 percent increase, mainly due to sales of palm oil and palm oil-based products and refined petroleum products. Meantime, imports decreased 9.4 percent to MYR 55.5 billion, the most since April 2016 and worse than market estimates of a 0.6 percent fall, as purchases of intermediate, consumption and capital goods dropped. Considering the first two months of the year, the trade balance recorded a surplus of USD 22.6 billion, compared with a surplus of USD 18.7 billion in the same period of 2018. Balance of Trade in Malaysia averaged 3429.09 MYR Million from 1970 until 2019, reaching an all time high of 16313.37 MYR Million in October of 2018 and a record low of -2880.61 MYR Million in June of 1997.
Balance of Trade in Malaysia is expected to be 6600.00 MYR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Malaysia to stand at 16500.00 in 12 months time. In the long-term, the Malaysia Balance of Trade is projected to trend around 12200.00 MYR Million in 2020, according to our econometric models.