Exports from Malaysia unexpectedly increased by 1.7 percent year-on-year to MYR 88.0 billion in July 2019, missing market consensus of a 2.5 percent drop and after a 3.1 percent fall in the previous month. Sales rose for electrical & electronic products (4.5 percent); timber & timber based products (1.2 percent); liquefied natural gas/LNG (31.3 percent); refined petroleum products (3.2 percent); natural rubber (25.5 percent). By contrast, outbound shipments declined for: crude petroleum (-45.7 percent); palm oil & palm oil-based products (-9.9 percent). Among major trading partners, sales increased to China (3.8 percent), led by LNG and refined petroleum product; Singapore (3.1 percent), driven by electrical and electronic products; and the US (7.9 percent). Exports in Malaysia averaged 24803.99 MYR Million from 1970 until 2019, reaching an all time high of 97122 MYR Million in October of 2018 and a record low of 328.10 MYR Million in February of 1970.
Exports in Malaysia is expected to be 84000.00 MYR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in Malaysia to stand at 78500.00 in 12 months time. In the long-term, the Malaysia Exports is projected to trend around 89000.00 MYR Million in 2020, according to our econometric models.