Malaysia October 2019 Exports Seen Down 12.6% & Foreign Fund Outflow Highest in Asia - Worst Drop Since Pakatan Harapan Take Over - The Coverage
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Malaysia October 2019 Exports Seen Down 12.6% & Foreign Fund Outflow Highest in Asia – Worst Drop Since Pakatan Harapan Take Over

Malaysia’s exports likely fell for a third straight month in October, and at a much sharper pace than in September, as global electronics demand remained weak, a Reuters poll showed on Monday.

The median forecast among 11 economists surveyed was for October exports to decline 12.6% from a year earlier, nearly double the pace of the 6.8% contraction in September.

Imports in October are also seen down at 6.7% year-on-year, compared with the 2.4% expansion the month before, the poll showed.

The country’s trade surplus in October likely expanded to RM10.6 billion (US$2.54 billion) from September’s RM8.3 billion.

Malaysia reports trade data in ringgit and it is due on Dec 4.

Malaysia has recorded the highest year-to-date (YTD) foreign fund outflow among seven Asian countries tracked by MIDF Research, at US$2.39 billion (RM9.93 billion).

In its weekly fund flow note yesterday, the research house said Malaysia’s RM9.93 billion outflow YTD makes up 85% of last year’s total outflow of RM11.69 billion.

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Although there is still one more month to go before the year ends, Malaysia has recorded the third-highest foreign fund outflow figure this year compared with the annual fund flows over the past seven years.

The highest foreign fund outflow recorded over the past seven years was in 2015 at RM19.49 billion, followed by RM11.69 billion in 2018.

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