Malaysia Jan exports surge 37pc
By Rupa Damodaran
Published: 2010/03/06
MALAYSIAN exports in January jumped 37 per cent from a year ago, on improved demand for electrical and electronic products to countries like China and the European Union.
The latest trade figures, which benefited from low numbers last year, beat market expectations. A Business Times poll expected a 33.82 per cent average growth for exports and a 33.6 per cent growth for imports.
The International Trade and Industry Minister Datuk Seri Mustapa Mohamed, in a statement yesterday, said the increase was largely due to higher exports of electrical and electronic (E&E) products, which jumped 55.6 per cent.
The other sectors that expanded included palm oil (43.8 per cent or RM1.21 billion), chemicals and chemical products (50 per cent or RM1.06 billion) and refined petroleum products (60.4 per cent or RM700.9 million).
Exports to all major markets except the US grew significantly.
Exports to China surged 137.3 per cent in January, followed by Hong Kong 92.2 per cent, Singapore (37.5 per cent), Japan (17.4 per cent) and the US (2.4 per cent).
Exports to Asean in January expanded by 44.2 per cent, accounting for a quarter of Malaysia's total exports.
CIMB Investment Bank chief economist Lee Heng Guie said exports would continue rising by double digits in the first half, due to the base effects.
CIMB expects exports to grow 10 per cent this year, better than MITI's forecast of a 6 to 7 per cent growth.
Kenanga Investment Bank economist Wan Suhaimie Wan Saidie, however, thinks the true measure of exports will be seen once the base effect disappears.
Fortunately for Malaysia, the Chinese market has been an added support.
If the January figures were compared with December 2009 numbers, exports actually fell by 4.1 per cent.
Wan Suhaimie said it was too early to say if there is a pattern, although another two months of contractions could slow the current growth momentum.
Export Growth To Continue In 1h10 2010, Says Kenanga Research
KUALA LUMPUR, March 8 (Bernama) -- Malaysia's export growth momentum may continue at least till the first half of this year on the back of demand pick up for electrical and electronic (E&E) equipment and commodities.
Though there was a higher probability that exports may garner double-digit growth in the first half of this year, its growth momentum may subside in the second half of 2010, said Kenanga Research.
"As the base effect fades along with the slower economic recovery in advance economy going into second half of 2010, we expect export growth upside to be limited," said the research house in a statement Monday.
This is due to the higher base in the second half of 2009 as well as an expected moderate growth trajectory for the global economy after the first half this year, it said.
The sharp rise in exports was largely due to the 55.6 per cent surge E&E shipments, the strongest since February 1998.
Meanwhile, non-E&E exports expanded by 26.7 per cent, its highest in 18 months on higher palm oil exports, crude petroleum, chemicals and metals.
"Hence, we believe export growth this year may not exceed 10.0 per cent after falling 16.6 per cent in 2009.
"Despite the encouraging year-on-year growth, we have yet to see a convincing pick up in economic activities on a monthly basis as exports and imports were down 4.1 per cent," it said.
Malaysia’s exports surged 37.0 per cent year-on-year in January, largely influenced by a lower base a year ago as it fell by 4.1 per cent month-on-month.
"While it was higher than consensus, it was below our 38.7 per cent estimate," said the research house.
The fact that capital goods declined -2.9 per cent year-on-year, also indicated that businesses are still reluctant to invest in factories, machinery and equipment to ramp up production levels, it said.
Across major export markets, the U.S. and Japan rebounded from negative territory, which may drive Malaysia’s exports going forward, it said.
"With the implementation of AFTA (Asean Free Trade Agreement) from January 2010, we believe Malaysia will rely more on intra-regional trade to boost exports," it added.
-- BERNAMA
SE Asia
Mar 5, 2010
M'sia's Jan exports jump 37%
KUALA LUMPUR - MALAYSIA said on Friday its exports, the mainstay of the economy, jumped 37.0 per cent year-on-year in January as the economy emerges from recession.
The trade ministry said in a statement that shipments rose to 52.45 billion ringgit (S$21.8 billion) while imports were up 31 percent to 39.52 billion ringgit, producing a surplus of 12.93 billion ringgit.
'The increase in exports in January 2010 compared with January 2009 was largely contributed by higher exports of electrical and electronic products which increased by 55.6 percent or 7.64 billion ringgit,' the statement said.
Electrical and electronic products accounted for 40.8 per cent of total exports while other main export items were palm oil, chemical products, refined petroleum products, crude petroleum and metal.
'On a year-on-year basis, exports to major markets except the United States registered a significant growth,' the ministry said, referring to key markets such as China, Singapore, Japan and Hong Kong. Exports to China increased 137.3 percent while there was an expansion of just 2.4 per cent to the United States.
Malaysia's export-dependent economy was hit hard by the global recession, but Prime Minister Najib Razak said last month that it has recovered and could expand by 5.0 per cent this year. -- AFP
Malaysia's Exports Rise 37 Pct To RM52.45 Bln In January
KUALA LUMPUR, March 5 (Bernama) -- Malaysia's total exports in January surged 37 per cent to RM52.45 billion against RM38.26 billion registered in January 2009, following higher exports of electrical and electronic (E&E) products.
Imports also increased by 31 per cent to RM39.52 billion, for the period under review, from RM30.16 billion previously, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed in a statement on Friday.
January's total trade amounted to RM91.96 billion, up 34.4 per cent from January 2009's total trade of RM68.43 billion.
Compared with December last year, total exports, however, decreased 4.1 per cent while imports declined 7.2 per cent which resulted in total trade in January easing 5.4 per cent.
"As a result, a trade surplus of RM12.93 billion was recorded in January this year, making it the 147th consecutive month of trade surplus since November 1997," said the minister.
On a year-on-year basis, exports to major markets, except the United States, registered a significant growth.
Mustapa said the top five export destinations, which accounted for 52.9 per cent of the country's total exports, were China, Singapore, Japan, Hong Kong and the United States.
Meanwhile, exports to Asean countries, which accounted for 25.2 per cent in January 2010, expanded 44.2 per cent to RM13.23 billion.
The increase was mainly due to E&E products, chemicals and chemical products, manufactures of metal, refined petroleum products, iron and steel products as well as machinery, appliances and parts.
The minister said exports to the European Union increased 29.4 per cent to RM5.61 billion compared with January last year, mainly due to higher exports of E&E products.
As for imports, the increase was due mainly to higher imports of intermediate goods.
The three main categories of imports by end use were intermediate goods valued at RM27.26 billion or 69 per cent of total imports; capital goods worth RM5.32 billion and consumption goods amounting to RM2.84 billion.
Top ten import sources were from China, Japan, Singapore, the United States, Indonesia, Thailand, South Korea, Taiwan, Germany and Hong Kong.
Meanwhile, total imports from Asean amounted to RM10.87 billion or 27.5 per cent of the country's total imports.
Malaysian Rating Corporation Bhd (MARC) Chief Economist Nor Zahidi Alias said the performance was in line with expectations.
He said the low-base factor was expected to result in very strong trade numbers for January coupled with the pickup in global demand, particularly for E&E products.
He told Bernama exports plunged almost 30 per cent last January but this was not surprising.
"Going forward, we see a sustained rebound in exports following a recovery in major developed countries as well as emerging economies," said Nor Zahidi.
He said the government's efforts in diversifying the export base bore fruit in recent years and this was evident by the increasing proportion of Malaysia's exports to Asian countries.
Malaysia’s Exports Rise the Most in 11 Years, Boosting Recovery
By Shamim Adam and Michael Munoz
March 5 (Bloomberg) -- Malaysia’s exports surged by the most in more than 11 years in January as manufacturers shipped more goods to China and Europe amid a global economic recovery.
Overseas shipments rose 37 percent from a year earlier to 52.5 billion ringgit ($15.6 billion) after gaining 18.7 percent in December, the trade ministry said in a statement in Kuala Lumpur today. The median estimate in a Bloomberg News survey of 14 economists was for a 31.3 percent increase.
“It reflects the solid rebound over the past year, paralleling that across the region on the turnaround in global demand,” David Cohen, a Singapore-based economist at Action Economics, said before the report.
Malaysia’s recovery is “firmly established” as the nation emerges from its recession, the central bank said yesterday as it raised interest rates for the first time in almost four years. International Trade and Industry Minister Mustapa Mohamed said this week exports of Sime Darby Bhd. palm oil and other goods may climb at twice the pace predicted earlier in 2010.
“The economic recovery in Malaysia is now starting to appear sustainable, although the path of recovery is likely to be uneven over the next few months,” Rahul Bajoria, an economist at Barclays Capital in Singapore, said before the report. “Meanwhile, the inflation picture is benign. We believe Bank Negara Malaysia will adopt a gradual approach to monetary tightening at least in the next three to nine months.”
Shipments to China, Malaysia’s biggest market during the month, more than doubled in January from a year earlier to 7.1 billion ringgit. Exports to the U.S., the European Union and Japan also gained.
Electronics, Oil
Sales of electrical and electronics products by companies including Malaysian Pacific Industries Bhd. and Unisem (M) Bhd. climbed 55.6 percent in January, compared with a 33.3 percent gain the previous month. Such goods made up 41 percent of total exports.
Oil exports surged 35.5 percent, while palm oil sales jumped 43.8 percent.
Malaysia’s imports rose 31 percent in January from a year earlier to 39.5 billion ringgit. The trade surplus widened to 12.9 billion ringgit from 12.1 billion ringgit in December.
Overseas shipments may increase 6 percent or 7 percent this year, more than a previous forecast of 3.5 percent, Mustapa said March 2. Exports slumped 16.6 in 2009, the first decline in eight years. In neighboring Singapore, the government predicts non-oil domestic exports will probably gain between 10 percent and 12 percent in 2010 after shrinking 10.6 percent last year.
To contact the reporter on this story: Shamim Adam in Singapore
Malaysia Exports Increase In January
By kickforex • Mar 5th, 2010 • Category: Live News
Malaysia’s exports increasing 37% upon an annual basement to MYR 52.45 billion in January, faster than a 18.7% expansion in a prior month, a inform by a Department of Statistics Malaysia showed upon Friday. Economists were seeking for an enlarge of 32%.
Meanwhile, imports climbed 31% year-on-year to MYR 39.52 billion in January, faster than a 23.3% enlarge in a preceding month. Economists approaching an enlarge of 33%.
On a monthly basis, exports as well as imports decreased by 4.1% as well as 7.2% respectively in January.
The traffic over-abundance stood during MYR 12.93 billion in January, widening from MYR 12.1 billion over-abundance in December. This was a 147th uninterrupted months of traffic over-abundance given Nov 1997.
Malaysia’s exports increasing 37% upon an annual basement to MYR 52.45 billion in January, faster than a 18.7% expansion in a prior month, a inform by a Department of Statistics Malaysia showed upon Friday. Economists were seeking for an enlarge of 32%. (Market News Provided by RTTNews)
Monday, March 8, 2010
Tuesday, March 2, 2010
M'sia export forecast
Malaysia doubles export growth forecast
2010/03/02
MALAYSIA'S government said exports may grow this year at twice the pace it predicted earlier, citing rising global demand for palm oil and electronics.
Overseas shipments may increase 6 per cent or 7 per cent this year, more than a previous forecast of 3.5 per cent, International Trade and Industry Minister Datuk Seri Mustapa Mohamed told reporters in Petaling Jaya, near Kuala Lumpur, today.
“The recovering global economy would contribute to increased demand for Malaysian exports such as electrical and electronic products, furniture, rubber products as well as commodities,” he said.
Malaysia emerged from a recession last quarter as the global recovery revived exports of Sime Darby Bhd’s palm oil and Intel Corp’s computer chips. Southeast Asia’s third-biggest economy may expand a faster-than-expected 6 percent in 2010 after contracting 1.7 per cent last year, Prime Minister Najib Razak was cited as saying by a local daily today.
The government had forecast in October that the economy would expand 2 per cent to 3 per cent in 2010 after shrinking an estimated 3 per cent last year.
Global semiconductor sales will grow 10.2 per cent to US$242.1 billion in 2010, the Semiconductor Industry Association predicted in November. Chip sales fell 9 per cent in 2009, the group said Feb. 1.
‘Stronger Recovery’
“We believe the semiconductor sector is poised for a stronger recovery in 2010 given the stronger demand outlook,” Wong Chin Wai, an analyst at RHB Research Institute Sdn Bhd in Malaysia, wrote in a report today, maintaining an “overweight” call on the industry with Unisem (M) Bhd as his top pick.
Intel, which has production facilities in Malaysia, Motorola Inc. and other U.S. electronics makers account for about 16 per cent of Malaysia’s total exports of manufactured goods, and almost 30 per cent of the country’s electronics shipments, according to the American Malaysian Chamber of Commerce’s electronics industry group.
Higher palm oil prices will boost earnings this year, IOI Corp, Malaysia’s second-biggest listed producer, said last month.
2010/03/02
MALAYSIA'S government said exports may grow this year at twice the pace it predicted earlier, citing rising global demand for palm oil and electronics.
Overseas shipments may increase 6 per cent or 7 per cent this year, more than a previous forecast of 3.5 per cent, International Trade and Industry Minister Datuk Seri Mustapa Mohamed told reporters in Petaling Jaya, near Kuala Lumpur, today.
“The recovering global economy would contribute to increased demand for Malaysian exports such as electrical and electronic products, furniture, rubber products as well as commodities,” he said.
Malaysia emerged from a recession last quarter as the global recovery revived exports of Sime Darby Bhd’s palm oil and Intel Corp’s computer chips. Southeast Asia’s third-biggest economy may expand a faster-than-expected 6 percent in 2010 after contracting 1.7 per cent last year, Prime Minister Najib Razak was cited as saying by a local daily today.
The government had forecast in October that the economy would expand 2 per cent to 3 per cent in 2010 after shrinking an estimated 3 per cent last year.
Global semiconductor sales will grow 10.2 per cent to US$242.1 billion in 2010, the Semiconductor Industry Association predicted in November. Chip sales fell 9 per cent in 2009, the group said Feb. 1.
‘Stronger Recovery’
“We believe the semiconductor sector is poised for a stronger recovery in 2010 given the stronger demand outlook,” Wong Chin Wai, an analyst at RHB Research Institute Sdn Bhd in Malaysia, wrote in a report today, maintaining an “overweight” call on the industry with Unisem (M) Bhd as his top pick.
Intel, which has production facilities in Malaysia, Motorola Inc. and other U.S. electronics makers account for about 16 per cent of Malaysia’s total exports of manufactured goods, and almost 30 per cent of the country’s electronics shipments, according to the American Malaysian Chamber of Commerce’s electronics industry group.
Higher palm oil prices will boost earnings this year, IOI Corp, Malaysia’s second-biggest listed producer, said last month.
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