Economic Research | 6 April 2018 | |||
Malaysia | ||||
Economic Update | ||||
Exports Plunges In February Amid Festive Holidays Export growth in MYR terms fell 2% YoY in February, mainly due to distortions caused by the timing of the festive Lunar New Year holidays that fell in February this year instead of January, as was the case last year. Cumulatively, exports still registered a growth of 7.8% YoY in the first two months of 2018, accelerating from 4.7% in Dec 2017. Overall, the decline will likely be temporary and exports are poised to resume a growth trajectory. Looking forward, we believe there is sustained momentum in external activity and we expect exports to grow at a healthy pace of 6.5%, albeit slowing from the 18.9% recorded in 2017. This is on account of a higher base in 2017, a slowdown in China’s demand for the country’s exports, but will be partly mitigated by resilient external demand for E&E shipments and higher commodity prices. Economists: Vincent Loo Yeong Hong | +603 9280 2172 | ||||
To access our recent reports please click on the links below: 02 Apr: M3 Growth Steps Up a Gear 28 Mar: BNM Annual Report 2017 – Economic Growth Expected To Sustain At a Stellar Pace 21 Mar: Inflation Dips To Its Lowest In 16 Months 20 Mar: Highest Supplementary Budget In Four Years 13 Mar: January’s Industrial Activity Flat Amid Slower Manufacturing 08 Mar : Forex Reserves Stable At MYR103.7bn In February | ||||
Economics Team | ||||
Arup Raha | Group Chief Economist | +65 6232 3896 | ||
Peck Boon Soon | Chief ASEAN Economist | +603 9280 2163 | ||
Vincent Loo Yeong Hong | Malaysia, Vietnam, | +603 9280 2172 | ||
Rizki Fajar | Indonesia, Philippines | +6221 2970 7065 | ||
Aris Nazman Maslan | Malaysia, Vietnam | +603 9280 2184 | ||
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