Asia > South-Eastern Asia > Malaysia > Malaysia Exports contraction moderates in November,

Malaysia: Malaysia Exports contraction moderates in November,

2016/01/17

Exports in USD terms fell 15.5% in annual terms in November, following the 18.4% contraction tallied in October. The contraction was additional severe than analysts had expected and marks the lowest figure in nine months. The result marks 14 consecutive months of contraction, as world request for key Malaysian exports dwindles, and the MYR loses ground against the USD. Meanwhile, imports declined 16.5% in November, which was a less severe contraction than the 20.8% fall recorded in the previous month.

The trade balance narrowed from a USD 3.0 billion surplus in October to a USD 2.3 billion surplus in November. The 12-month moving sum of the trade balance fell from USD 25.6 billion to USD 24.6 billion in November. The 12-month figure has been falling steadily since the middle of last year and indicates that declining oil and gas exports have not been completely offset by manufacturing exports.

FocusEconomics Consensus Estimate panelists expect exports to fall 2.6% in USD terms in 2016. Imports are expected to decline 2.6% in 2016, thus pushing the trade surplus to USD 24.6 billion. For 2017, the panel expects exports to grow 6.4%. With imports expected to rise 5.8% in 2017, panelists see the trade surplus falling to USD 26.9 billion.

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