If trade growth keeps at this pace, I’d be pretty happy (log annual and monthly changes; seasonally adjusted):
Exports were up 6.7% in annual log terms, although growth was pretty marginal on the month. It’s not all roses – import growth was weaker than I’m comfortable with, since looking at the levels, the apparent growth in the numbers is largely an artefact of weak numbers last year (RM millions):
For those not familiar with the structure of Malaysian trade, much of our exports depend on imported inputs, and weaker/stagnant imports generally signals weaker exports in the months ahead.
Nevertheless, we’re seeing a solid recovery here, especially in the long moribund electrical and electronics sector (log annual and monthly changes; seasonally adjusted):
Growth for the last quarter is looking better by the day.
November 2013 External Trade report from MATRADE