Malaysia’s exports unexpectedly rise in June
According to data released by the Malaysian government, liquefied natural gas (LNG) and crude oil exports slumped 45.2% and 34.1%, respectively, in June compared with the same month of 2014 while palm oil, chemical products and electronics exports posted increases in June, rising by 26.1%, 13.5% and 15.1%, respectively. Exports for refined petroleum products declined 9.6% from a year earlier.
Among the main export destinations, Malaysia’s exports to China surged 49.3% in June while exports to Singapore, the USA and Thailand rose by 3.8%, 9.5% and 11.9%, respectively, from a year earlier. However, Malaysia’s shipments to Japan contracted 25.1% on the year in June.
In addition, Malaysia’s imports declined 1.5% on the year in June after posting a decrease of 7.2% in the previous month. June imports represented the third consecutive decreases on a yearly basis. Economists had expected to see a 3.7% drop in imports in June.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Major LDPE markets touch multi-year highs on growing tightness
- A prospect for Q4 through uncharted waters of 2020 amid pandemic
- China's import PP markets maintain uptrend under shadow of oil-driven losses in Dalian futures
- Weaker domestic demand prompts Vietnam to export polymers
- European PP market ceases upward trend in September
- Force majeure declarations rock the boat in Turkish PVC market
- China’s PE uptrend fueled by US force majeures; LDPE soars to more than 1-year high
- Stats: China’s cumulative PP imports in Jan-July 2020 reach record-high
- Sept PP, PE trend begins to take shape in Saudi Arabia
- Sept expectations voiced in Europe; ABS draws rosier picture than PS