‘Solid Q1 export numbers to spill over into April’

Latest poll sees average RM6.6b in trade balance in April

MALAYSIA’S strong export growth in the first quarter is likely to be sustained in April, according to a latest trade forecast poll.

An NST Business poll expects exports to record an average 21.61 per cent growth and imports to post a higher average of 29.86 per cent, bringing in an average RM6.6 billion in trade balance.

The International Trade and Industry Ministry will release the data today.

Exports during the first three months of the year rose by 21.4 per cent while imports grew by 27.7 per cent.

Exports reached a new milestone in March after breaching the RM80 billion mark for the first time, when it grew 24.1 per cent to RM82.63 billion.

HSBC Bank expects exports and imports to moderate slightly in April.

“Prices of crude oil and palm oil were slightly lower in April, and shipments to major trading partners like Japan, South Korea, Singapore and China also declined. However, new export orders were strong, reflecting a better demand, “it said.

Moody’s Investors Service expects Malaysia’s monthly trade surplus to narrow in April.

“Strong tech demand lifted Malaysian shipments through the March quarter but that appears to be cooling, with major tech hubs such as China slowing in the second quarter.”

Malaysian exports, it added, follow the global tech cycle reasonably given their large integrated circuit sector.

“Oil prices struggled in April, another drag on Malaysian exporter receipts.

“Some relief came from palm oil, with higher shipment volumes expected as earlier supply disruptions from poor weather faded,” the global rating agency added.