Malaysia’s August export growth at 21.5 pct y/y, above f’cast

07-Oct-2017 Intellasia | Reuters | 6:00 AM Print This Post

Malaysia’s exports in August grew to 21.5

percent from a year earlier, beating expectations on the back of manufacturing

sector and liquefied natural gas (LNG) exports, but were slower than the

previous month.

The export growth exceeded the 19.2 percent forecast by a Reuters poll but

was down from July’s 30.9 percent growth.

The upward trend of manufactured goods exports continued in August with an

expansion of 22.3 percent year-on-year. Growth was also driven by increased

exports of liquefied natural gas (LNG), government data showed on Friday.

Exports of mining goods grew 38.8 percent, accounting for 8.4 percent of

Malaysia’s total exports, the data showed.

August imports grew 22.6 percent from a year earlier to 72.4 billion

ringgit, up from the 21.8 percent growth in July and the 21.0 percent growth

projected in the poll.

The trade surplus in August widened to 9.9 billion ringgit ($2.3

billion)from July’s 8.0 billion ringgit.

Malaysia reports trade data in ringgit. The currency has been one of

Asia’s best-performing ones this year, strengthening about 6 percent this year.

Exports to China remained robust, rising 21.2 percent from a year earlier,

while those to the European Union grew 21.6 percent.

Shipments to the United States rose 14.5 percent.

KEY DATA

(Exports and imports in percent, trade in billions of ringgit)

August July June May April March February Jan

Exports 82.2 78.6 73.1 79.4 74.0 82.6 71.8 70.2

y/y percent 21.5 30.9 10 32.5 20.6 24.1 26.5 13.6

Imports 72.4 70.6 63.2 73.9 65.2 77.2 63.1 65.5

y/y percent 22.6 21.8 3.7 30.4 24.7 39.4 27.7 16.1

Balance 9.9 8.03 9.88 5.49 8.75 5.41 8.71 4.71

MAIN EXPORTS

August 2017 percent of percent change

(bln rgt) total vs year ago

Electrical & 31.0 37.8 20.1

Electronic Products

Petroleum products 5.3 6.4 33.6

Chemicals and 5.9 7.2 15.7

chemicals products

Palm oil & Palm-based 4.5 5.5 -8.9

products

Liquefied natural gas 4.0 4.8 101.8

Machinery 3.4 4.2 7.9

Manufactures of metal 3.4 4.1 24.7

Optical and 2.9 3.5 28.7

scientific equipment

Rubber products 2.2 2.7 28.2

Crude oil 1.9 2.3 0.0

EXPORT MARKETS

August 2017 percent of percent change

(bln rgt) total vs year ago

Singapore 82.2 14.7 20.5

China 11.3 13.7 21.2

USA 7.9 9.7 14.5

Japan 6.2 7.5 18.0

Thailand 4.0 4.9 7.4

($1 = 4.2350 ringgit)

https://www.reuters.com/article/malaysia-economy-trade/malaysias-august-export-growth-at-21-5- percent-y-y-above-fcast-idUSK7N13C02K

 


Category: Malaysia

Print This Post