Highlight Malaysia's June exports rise 7.9% on year, below Reuter's survey estimates

by **Cals** Thu 07 Aug 2014, 00:59

Highlight Malaysia's June exports rise 7.9% on year, below Reuter's survey estimates

Business & Markets 2014

Written by Charlotte Chong of theedgemalaysia.com

Wednesday, 06 August 2014 13:29

KUALA LUMPUR (Aug 6): Malaysia's June exports grew 7.9% year-on-year (y-o-y) to RM61.23 billion while imports rose 9.2% to RM57.26 billion, according to the Statistics Department.

In a press release on its website today, the department said the country recorded a trade surplus of RM3.97 billion during the month. Total trade grew 8.5% to RM118.5 billion.

The department said export growth came on higher external sales of electrical and electronic, oil and gas, chemical, and palm oil products.

Meanwhile, import growth came on higher purchases of intermediate, capital and consumption goods.

Total imports from the Association of Southeast Asian Nations (Asean) region came to RM14.89 billion, accounting for 26% of total imports in June, the department said.

Malaysia's first-half (1H14) exports rose 12.5% to RM380.14 billion from a year earlier while imports increased 7.1% to RM335.46 billion.

The country’s total trade in 1H14 rose to RM715.6 billion. The department said trade surplus in 1H14 was valued at RM44.68 billion, an expansion of 81.8%.

“Significant growth in trade was recorded to all major markets,” it said.

Malaysia’s trade with Asean increased 7.3% while trade with China (PRC) grew 7.7%.

Transactions with the European Union (EU) and the US climbed 8.2% while trade with Japan went up 5.4%.

Malaysian June export and import growth figures were lower than consensus’ estimates of a 13.9% and 12.5% expansion respectively, according to a Reuters' survey.

In May, exports rose 16.3% from a year earlier after surging 18.9% in April.