China ministry: 2015 exports likely to be flat

September’s reading reflects the fourth successive month of export gains, helped by higher demand from the European Union and China.

Still a few analysts are cautious on Malaysia’s export prospects.

BEIJING-China’s Ministry of Commerce said there is likely to be little increase in the country’s exports in 2015, while imports will likely report a “relatively big” decline. The USA imported 101.3 million barrels of Canadian oil in September, the second-highest level seen in records going back to 2010.

Major exports in September 2015 were electrical and electronics products valued at RM26.09 billion, with a share of 37.2 per cent of total exports, an increase of 13.6 per cent from a year ago. Exports of liquefied natural gas dropped 33.3%, while those of crude oil fell by 12.2% and crude palm oil fell by 3.3%.

Chinese companies’ investment to the USA also jumped 51 percent year-on-year to $6.35 billion in the first half of this year. In August, exports rose 4.1% on-year. The steady expansion over the past four months prompted UOB KayHian to raise its full-year export growth estimate to 1.5% from earlier forecast of a 1.5% contraction.

Still, many experts say that – with rapid growth in emerging-market economies, particularly in Asia – Canada will have to accept a different role in the global trade environment than it’s been used to.

Exports in September rose 8.8% year-over-year to 64.5 billion ringgit ($15 billion), the Department of Statistics said in a statement. Malaysia’s imports slowed when the government implemented a consumption-based Goods and Services Tax (GST) in April, but showed a surprising 5.9 percent rise in July.