Malaysia’s April exports, imports below forecast
KUALA LUMPUR - Malaysia’s April 2016 exports rose 1.6 per cent to 61.3 billion ringgit from a year ago, which was a disappointment when compared with a survey of a 2 per cent increase.
The Statistics Department said the country’s imports fell 2.3 per cent, or 1.2 billion ringgit to 52.3 billion ringgit from 53.5 billion ringgit a year ago, which was below economists’ expectations of a 0.1 per cent increase.
Total trade in April 2016 valued at 113.6 billion ringgit decreased 258.8 million ringgit or 0.2 per cent from the year before. It also posted a drop of 6.8 per cent or 8.3 billion ringgit, month-on-month.
On a year-on-year (yoy) basis, the trade surplus increased 31.9 per cent or 2.2 billion ringgit to 9.1 billion ringgit. However, on a month-on-month basis it declined 19.1 per cent from 11.2 billion ringgit.
The Statistics Department said exports increased due to the rise in exports to Singapore (+1.2 billion ringgit), the US (+697 million ringgit), Vietnam (+651.3 million ringgit), Taiwan (+283.4 million ringgit) and Bangladesh (+253 million ringgi).
The department said the higher exports were due to refined petroleum products, electrical and electronic (E&E) products, palm oil and palm-based products and natural rubber.
However, it said the decline were recorded in liquefied natural gas (LNG), crude petroleum and timber and timber-based products.
On a y-o-y basis, imports decreased 2.3 per cent from 53.5 billion ringgit. The decline in imports was mainly attributed to intermediate goods and capital goods.
Intermediate goods which constituted 56.8 per cent of total imports dropped 2.2 billion ringgit to 29.7 billion ringgit. The decrease were mainly attributed fuel and lubricants, primary (-833.3 million ringgit, -48.9 per cent), fuel and lubricants, processed, others (-786.8 million ringgit, -54.2 per cent) and industrial supplies, processed (-313.3 million ringgit, -2.6 per cent).
Imports of capital goods, which accounted for 13.4 per cent of total imports, decreased marginally by 1.6 million ringgit to 7 billion ringgit due to the decline in capital goods (except for transport equipment) (-397.1 million ringgit, -6 per cent). However, transport equipment, industrial increased 395.5 million ringgit or 101.0 per cent.
