MARKET DEVELOPMENT
Malaysia's June Exports, Imports Below Forecast
Malaysia's June Exports, Imports Below Forecast
06/08/2014 (The Star) - Malaysia's exports rose at a slower-than-expected rate of 7.9% to RM61.23bil in June compared with economists' forecasts of a 15% growth.
The Statistics Department said on Wednesday that its imports rose 9.2% to RM57.26bil, which was a slower increase compared to a survey of 12.9% growth.
"Malaysia's total trade in June 2014 grew by 8.5% from a year ago to RM118.5bil," it said. It recorded a trade surplus of RM3.97bil.
The department said the increases in trade were recorded with Taiwan, which rose by RM1.71bil, the South Korea (up RM1.2 billion), Singapore (up RM1.15bil), the USA (up RM981mil), France (up RM888.3mil), Thailand (up RM874.6mil), China (up RM778.1mil) and Hong Kong (up RM743.4mil).
"Exports of manufactured goods increased by 7.3% to RM46.59bil, compared with June 2013," it said.
The increase in exports of manufactured goods was contributed mainly by higher exports of electrical and electronic (E&E) products by RM1.07bil, especially electronic integrated circuits; optical and scientific equipment (instruments and apparatus especially designed for telecommunications) as well as machinery, appliances and parts.
Exports of mining goods expanded by 14.2% to RM8.82bil. The increase in exports of mining goods was due mainly to higher exports of crude petroleum, which contributed by higher quantities and prices as well as LNG.
Exports of agricultural goods was higher by 4.3% to RM5.43bil, contributed by higher exports of palm oil, due to higher prices.
Major exports were electrical and electronic products valued at RM20.39bil, with a share of 33.3% of total exports, increased by 5.5% from June 2013, LNG (RM5.2bil, 8.5%, up 11.2%); petroleum products (RM4.98bil, 8.1%, up 8.3%); chemicals and chemical products (RM4.01bil, 6.5%, up 2%); and palm oil which includes crude palm oil; fractionated palm oil; palm kernel oil, olein and stearin (RM3.7 billion, 6%, up 4.2%).
The Statistics Department said on Wednesday that its imports rose 9.2% to RM57.26bil, which was a slower increase compared to a survey of 12.9% growth.
"Malaysia's total trade in June 2014 grew by 8.5% from a year ago to RM118.5bil," it said. It recorded a trade surplus of RM3.97bil.
The department said the increases in trade were recorded with Taiwan, which rose by RM1.71bil, the South Korea (up RM1.2 billion), Singapore (up RM1.15bil), the USA (up RM981mil), France (up RM888.3mil), Thailand (up RM874.6mil), China (up RM778.1mil) and Hong Kong (up RM743.4mil).
"Exports of manufactured goods increased by 7.3% to RM46.59bil, compared with June 2013," it said.
The increase in exports of manufactured goods was contributed mainly by higher exports of electrical and electronic (E&E) products by RM1.07bil, especially electronic integrated circuits; optical and scientific equipment (instruments and apparatus especially designed for telecommunications) as well as machinery, appliances and parts.
Exports of mining goods expanded by 14.2% to RM8.82bil. The increase in exports of mining goods was due mainly to higher exports of crude petroleum, which contributed by higher quantities and prices as well as LNG.
Exports of agricultural goods was higher by 4.3% to RM5.43bil, contributed by higher exports of palm oil, due to higher prices.
Major exports were electrical and electronic products valued at RM20.39bil, with a share of 33.3% of total exports, increased by 5.5% from June 2013, LNG (RM5.2bil, 8.5%, up 11.2%); petroleum products (RM4.98bil, 8.1%, up 8.3%); chemicals and chemical products (RM4.01bil, 6.5%, up 2%); and palm oil which includes crude palm oil; fractionated palm oil; palm kernel oil, olein and stearin (RM3.7 billion, 6%, up 4.2%).