Malaysia Trade Surplus Widens In February
Malaysia reported a MYR 8.7 billion trade surplus in February of 2017, compared to a MYR 7.35 billion surplus a year earlier and beating market consensus of a MYR 6.05 billion surplus.
Year-on-year exports surged 26.5 percent to MYR 71.8 billion, following a 13.6 percent rise in January and beating market consensus of a 17.9 percent growth.
4/5/2017 4:57:49 AM
Exports increase for the fourth straight month boosted by electrical & electronic products (22.4 percent to MYR 24.6 billion, 34.2 percent of total exports), palm oil and palm based products (62.8 percent to MYR 7.0 billion, 9.7 percent share), crude petroleum (50.4 percent to MYR 2.4 billion, 3.3 percent share), natural rubber (85.5 percent to MYR 505.8 million, 0.7 percent share) and LNG (2.1 percent to MYR 3.3 billion, 4.6 percent share), and timber and timber-based products (7.4 percent to MYR 1.7 billion, 2.4 percent share).
Exports went up to China (47.8 percent), the EU countries (26.6 percent), the ASEAN countries (34.0 percent), and Singapore (25.3 percent).
Imports to Malaysia jumped 27.7 percent from a year earlier to MYR 63.1 billion in February of 2017, compared to 16.1 percent rise in the preceding month and higher than market expectations of a 21.7 percent. It was the fourth consecutive month of increase, as imports went up for most categories : intermediate goods (39.9 percent, due to fuel & lubricants (258.4 percent); parts & accessories of capital goods, except transport equipment (14.1 percent); industrial supplies, processed (26.4 percent). In contrast, imports for cosumption goods declined (0.6 percent, due to semi-durables (-5.3 percent), non-durables (-3.7 percent).
In January 2017, trade surplus stood at MYR 4.7 billion.