Imports to Malaysia surged 11.4 percent from a year earlier to MYR 80.1 billion in October 2018, well above market expectations of a 2.8 percent gain and after a 2.7 percent drop in a month earlier. Purchases of intermediate goods rose 1 percent to MYR 39.3 billion. The increase was driven by parts & accessories of transport equipment (13.4 pct); fuel & lubricants, processed, others (32.7 pct); fuel & lubricants, primary (115.2 pct), and food and beverages, processed, mainly for industries (32.7 pct). Also, imports of consumption goods recorded a 7.6 percent gain to MYR 6.4 billion. The increase was mainly attributed to non-durables (23.3 pct); food & beverages, processed, mainly for household consumption (7.3 pct) and durables (17.8 pct). On the other hand, imports of capital goods shrank 1.6 percent to MYR 9.4 billion, due to a drop in capital goods except transport equipment (-3.4 pct) while imports of transport equipment, industrial rose (18.5 pct). Imports in Malaysia averaged 20534.42 MYR Million from 1970 until 2018, reaching an all time high of 80197.13 MYR Million in August of 2018 and a record low of 313.60 MYR Million in August of 1970.
Imports in Malaysia is expected to be 74900.00 MYR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in Malaysia to stand at 73800.00 in 12 months time. In the long-term, the Malaysia Imports is projected to trend around 76800.00 MYR Million in 2020, according to our econometric models.