Malaysia's Feb Exports Expand 6.7 Pct Y/Y, Better Than Forecast
* Feb imports +1.6 pct y/y vs poll f'cast of -1.5 pct
* Trade surplus 7.35 bln rgt vs f'cast 6.31 bln rgt surplus
* Exports to China +12.0 pct y/y; U.S. +21.0 pct; EU +11.3 pct
07/04/2016 (Reuters) - Malaysia's annual exports grew in February, rebounding from a slump the previous month, due to larger shipments of electrical and electronic products, government data showed on Wednesday.
Exports in February rose 6.7 percent from a year earlier, more than double economists' expectations of 3.1 percent growth. Exports in January declined 2.8 percent from a year earlier, falling for the first time since May 2015.
Imports in February also rose 1.6 percent from a year earlier, slowing downslightly from the previous month's pace of 3.3 percent.
February's trade surplus rose to 7.35 billion ringgit ($1.9 billion)compared with 5.39 billion ringgit in January.
Exports to the EU grew 11.3 percent, while U.S. exports rose 21 percent supported by higher exports of electrical and electronic products, particularly, photosensitive semi-conductor devices.
KEY DATA
(Exports and imports in percent, trade in billions of ringgit)
Feb Jan Dec Nov Oct Sept Aug July
Exports 56.72 61.85 68.30 67.63 75.81 70.16 66.53 63.23
y/y% 6.7 -2.8 1.4 6.3 16.7 8.8 4.1 3.5
Imports 49.37 56.46 60.31 57.39 63.65 60.47 56.34 60.85
y/y% 1.6 3.3 3.2 9.1 -0.4 9.6 -6.1 5.9
Balance 7.35 5.39 7.99 10.23 12.16 9.69 10.19 2.38
MAIN EXPORTS
Feb 2016 % of % change
(bln rgt) total vs year ago
Electrical & 20.076 35.4 +8.9
Electronic Products
Palm oil 2.927 5.2 +6.6
Liquefied natural gas 3.217 5.7 -34.0
Chemicals and 4.298 7.6 +11.7
products
Crude oil 1.573 2.8 -14.0
Refined petroleum 3.454 6.1 -18.4
products
Machinery 2.947 5.2 +30.2
Rubber products 1.485 2.6 +11.6
EXPORT MARKETS
(bln rgt) % of total % yr/yr
China 6.49 11.4 +12.0
Singapore 7.94 14.0 +1.5
Japan 5.6 9.9 -20.6
USA 5.93 10.5 +21.0
Thailand 3.28 5.8 +8.0
($1 = 3.9110 ringgit)