April 5, 2017 / 4:03 AM / 4 months ago

Malaysia's Feb exports, imports rise at fastest y/y pace since 2010

5 Min Read

    * Feb exports +26.5 pct y/y vs Reuters poll +17.9 pct
    * Feb imports +27.7 pct y/y vs poll f'cast +21.7 pct
    * Trade surplus 8.7 bln rgt vs poll f'cast of 4.7 bln rgt
    * Exports to China +47.6 pct y/y, U.S. +13.2 pct, EU +26.6
pct
    * Jan-Feb exports rise 19.8 pct y/y, imports up 21.5 pct

    KUALA LUMPUR, April 5 (Reuters) - Malaysia's export growth
hit a near seven-year high in February, government data showed
on Wednesday, due to a jump in shipments of manufactured goods
and commodities.
    Exports rose 26.5 percent from a year earlier, the fastest
growth since May 2010 and the fourth consecutive month of
expansion.
    The annual increase beat economists' expectations of 17.9
percent. January shipments rose 13.6 percent from a year
earlier.       
    Data from the International Trade and Industry Ministry
showed February exports of manufactured goods rose 24.3 percent
and accounted for 80 percent of Malaysia's total.
    Exports of mining goods increased 21.6 percent, mainly on
rising crude oil prices, the data showed.  
    Imports in February rose 27.7 percent year-on-year, above
the 16.1 percent increase the previous month and the fastest
rate of growth since June 2010's 29.9 percent.
    The trade surplus in December widened to 8.71 billion
ringgit ($1.97 billion), from January's 4.7 billion ringgit. 
    Exports to China rose 47.6 percent from a year earlier, due
to higher shipments of electrical and electronic products and
commodities including petroleum products, rubber and palm oil. 
    Exports to the United States went up 13.2 percent on
stronger demand for manufactured goods, while exports to the
European Union grew 26.6 percent.
    Malaysia reports trade data in ringgit.
    February was the fourth consecutive month where exports
topped 70 billion ringgit.        
    For a graphic on Malaysia's exports and imports, click: link.reuters.com/xyb28s
    
    KEY DATA   
    (Exports and imports in percent, trade in billions of
ringgit)      
    
                Feb     Jan     Dec     Nov      Oct     Sept    Aug     July
   Exports     71.8     70.2    75.6    72.8    69.2     68.0    67.6    59.9
                                                                        
    y/y%       26.5     13.6    10.7    7.8     -8.6     -3.0    1.5     -5.3
   Imports     63.1     65.5    66.8    63.8    59.4     60.5    59.1    57.9
                                                                        
    y/y%       27.7     16.1    11.5    11.2    -6.6     -0.1    4.9     -4.8
   Balance     8.71     4.71    8.72    9.03    9.76     7.56    8.51    1.91
                                                                        
 
    MAIN EXPORTS
                          Feb 2017       % of      % change  
                                                       
                           (bln rgt)    total    vs year ago 
                                                       
 Electrical &               24.6         34.2        22.4
 Electronic Products                             
 Palm oil & Palm-based       4.8         6.7         63.4
 products                                        
                                                 
 Liquefied natural gas       3.3         4.6         2.1
 Chemicals and               5.9         8.2         37.5
 products                                        
 Crude oil                   2.4         3.3         50.3
                                                 
 Petroleum products          5.2         7.3         50.9
 Machinery                   3.3         4.6         12.9
 Metal                       2.8         3.8         -0.4
 Rubber                      2.1         2.9         38.4
 Optical and                 2.4         3.3         14.3
 scientific equipment                            
    
  EXPORT MARKETS                    
                  (bln rgt)     % of total    % yr/yr
                                            
 China               9.57         13.3         47.6
 Singapore           9.96         13.9         25.3
 Japan               6.72          9.4         19.9
 USA                 6.71          9.4         13.2
 Thailand            4.26          5.9         29.7
 
($1 = 4.4280 ringgit)

 (Reporting by Rozanna Latiff; Editing by Richard Borsuk)
  

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