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Malaysia's July exports rise 3.5 pct on yr, better than forecast
September 4, 2015 / 4:31 AM / 2 years ago

Malaysia's July exports rise 3.5 pct on yr, better than forecast

* July exports +3.5 pct y/y vs Reuters poll f'cast +3.2 pct
    * July imports +5.9 pct y/y vs f'cast of -0.8 pct
    * Trade surplus 2.38 bln rgt vs f'cast 6.0 bln rgt surplus
    * Exports to China +32.7 pct y/y; to U.S. +20.2 pct y/y; to EU +3.9 pct y/y

    KUALA LUMPUR, Sept 4 (Reuters) - Malaysia saw exports in July increase 3.5
percent from a year earlier as demand for electrical and electronic goods
surged, government data showed on Friday.
    According to the median forecast from a Reuters poll, economists had
forecast exports would rise 3.2 percent on the back of a weakening ringgit
currency, although individual estimates varied. 
    Exports of manufactured products helped boost July's figure as demand for
electronic integrated circuits grew, especially from China.
    Despite a weaker ringgit, imports did much better than expected, rising 5.9
percent from last year due to increases in imports of electronic circuits,
petroleum oils and medicament. Economists had predicted a 0.8 percent drop.
 
    This is the first increase for imports after three consecutive months of
decline since the government implemented a consumption-based Goods and Services
Tax (GST) in April. The ringgit is the worst performing emerging Asian currency
this year, having fallen more than 17 percent this year.
    The trade surplus in July dropped to 2.38 billion ringgit ($559.9 million)
from 7.98 billion ringgit in June. 
    Exports to China increased 32.7 percent, while U.S. exports grew 20.2
percent, underpinned by demand from the manufactured goods sector.
    
    For a graphic on Malaysia's exports and imports, please click: link.reuters.com/xyb28s

    
         KEY DATA         
    (Exports and imports in percent, trade in billions of ringgit)   
              July   June    May   April  March   Feb    Jan    Dec
   Exports    63.23  64.26  60.45  60.38  66.47  51.2   63.9   67.7
                                                               
    y/y%       3.5    5.0   -6.7   -8.8    2.3   -9.7   -0.6    2.7
   Imports    60.85  56.28  54.94  53.49  58.64  48.6   57.6   58.5
                                                               
    y/y%       5.9   -1.5   -7.2   -7.0    5.8    0.4   -5.3    4.2
   Balance    2.38   7.98   5.51   6.89   7.82   4.52   9.01    9.2
                                                               
       
    MAIN EXPORTS
                                     July 2015       % of      % change  
                                                                   
                                       (bln rgt)    total    vs year ago 
                                                                   
 Electrical & Electronic Products          23.097     36.53         12.07
 Palm oil                                   4.055      6.41          0.23
 Liquefied natural gas                      3.091      4.89         -23.6
 Chemicals and products                     4.844      7.66          19.9
 Crude oil                                  1.901      3.01         -25.4
 Refined petroleum products                 4.352      6.88         -34.4
 Machinery                                  2.833      4.48          23.4
 Rubber products                            1.503      2.38           5.4
 
                                      EXPORT MARKETS 
                                      (bln rgt)   % of total    % yr/yr      
 China                                      9.38       14.83         32.7
 Singapore                                  8.65       13.68        -12.5
 Japan                                      5.80        9.18          4.4
 USA                                        6.10        9.65         20.2
 Thailand                                   3.22        5.10         9.45
 

($1 = 4.2510 ringgit)

 (Reporting by Trinna Leong; Editing by Jacqueline Wong)

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