锡 (Tin) 加自选

2025年4月，马来西亚的进口额同比增长20%，达到1283.7亿马来西亚令吉的历史新高，轻松超过了市场预期的3.3%的增长，并从上个月向上修正的2.9%的下降中反弹。这一数字标志着自2024年8月以来进口活动的最高年增长率，主要归因于资本货物采购激增（114.1%），特别是运输设备、工业（147.9%）和除运输设备外的资本货物（112.7%）。另一方面，消费品（-0.7%）和中间产品（-1.7%）的购买量均有所下降。从行业来看，制造业（24.9%）和农业（10.8%）的采购量增加，而采矿业的采购量下降（-24.4%）。来自中国（20.6%）、美国（111.8%）和台湾（101.7%）的入境人数有所增长，而来自欧盟（5.9%）、日本（-1.2%）和泰国（-3.9%）的入境率有所下降。今年前四个月，进口额同比增长7.02%，达到4656.9亿马来西亚令吉。

Imports to Malaysia climbed by 20% year-on-year to an all-time high of MYR 128.37 billion in April 2025, easily surpassing market expectations of 3.3% gain and rebounding from an upwardly revised 2.9% fall in the previous month. The figure marked the highest annual growth in imports activity since August 2024, primarily attributed to a surge in purchases of capital goods (114.1%), particularly transport equipment, industrial (147.9%) and capital goods except transport equipment (112.7%). On the other hand, purchases declined for both consumption (-0.7%) and intermediate (-1.7%) goods. Sector-wise, purchases increased for manufacturing (24.9%) and agriculture (10.8%), while it declined for mining (-24.4%). Arrivals grew from China (20.6%), the US (111.8%), and Taiwan (101.7%), while it declined from the EU (5.9%), Japan (-1.2%) and Thailand (-3.9%). In the first four months of the year, imports rose by 7.02% to MYR 465.69 billion compared to the same period a year earlier.

2025年4月，马来西亚的出口同比增长16.4%，达到1336亿马来西亚令吉，远快于7.8%的预测，较上月6.8%的增长大幅加速。这是出境货运连续第七个月增长，也是四个月来最快的增长速度。按行业划分，制造业销售额增长19.0%，其中机电产品（35.4%）和机械设备（31.0%）增长。与此同时，农产品出口增长3.5%，主要受棕榈油及相关产品（1.8%）的推动。相反，矿业出货量下降1.3%，主要原因是原油价格下跌（-8.7%）。对新加坡（26.1%）、美国（45.6%）、中国（2.1%）、日本（6.8%）、欧盟（5.8%）和东盟（18.3%）的出口增长，对香港（-1.9%）的出口下降。

Exports from Malaysia surged 16.4% year-on-year to MYR 133.6 billion in April 2025, much faster than forecasts of 7.8%, accelerating sharply from a 6.8% rise in the previous month. It was the seventh consecutive month of growth in outbound shipments and the fastest pace in four months. By sector, manufacturing sales jumped 19.0%, boosted by E&E products (35.4%) and machinery and equipment (31.0%). Meanwhile, agricultural exports increased 3.5%, mainly driven by palm oil and related products (1.8%). Conversely, mining shipments dropped 1.3%, due mainly to lower crude petroleum (-8.7%). Exports advanced to Singapore (26.1%), the US (45.6%), China (2.1%), Japan (6.8%), the EU (5.8%), and the ASEAN (18.3%), while declining to Hong Kong (-1.9%).

2025年4月，马来西亚的贸易顺差从2024年同月的77亿马来西亚令吉暴跌至52亿马来西亚令吉特，远低于市场预期的147亿马来西亚令币的收益。这是自1月以来最小的贸易顺差，因为出口增长低于进口。出口同比增长16.4%，达到1336亿马来西亚令吉，为四个月来最快增速，从3月份的6.8%大幅加速，超过了7.8%的预期。这一增长主要得益于制造业（19.0%）和农业（3.5%）的销售，而采矿和采石业则下降了（-1.3%）。与此同时，由于资本货物激增（114.1%），进口飙升20%，达到创纪录的1284亿马来西亚令吉，远快于3.3%的增长预测。相比之下，中间产品和消费品分别下降1.7%和0.7%。

Malaysia's trade surplus plunged to MYR 5.2 billion in April 2025, down from MYR 7.7 billion in the same month of 2024, far below market estimates for a gain of MYR 14.7 billion. It was the smallest trade surplus since January, as exports rose less than imports. Exports jumped by 16.4% year-on-year to MYR 133.6 billion, the fastest pace in four months, accelerating sharply from a 6.8% rise in March and exceeding estimates of 7.8%. This growth was mainly boosted by sales of manufacturing (19.0%) and agriculture (3.5%), while mining and quarrying fell (-1.3%). Meanwhile, imports soared by 20% to a record high of MYR 128.4 billion, much faster than forecasts of a 3.3% growth, due to surges in capital goods (114.1%). By contrast, both intermediate goods and consumption goods fell by 1.7% and 0.7%, respectively.

2025年第一季度，泰国国内生产总值同比增长3.1%，超过2.9%的预测。然而，最新结果与2024年第四季度向上修正的3.3%的增长有所缓和，这是自2022年第三季度以来最强劲的年度增长。私人消费（2.6%对第四季度的3.4%）、政府支出（3.4%对5.4%）和固定投资（4.7%对5.1%）的增长都有所放缓。在贸易方面，出口（12.3%对11.5%）增长快于进口（2.1%对8.2%），对GDP做出了积极贡献，因为工厂在特朗普的新关税之前争相发货。在生产方面，非农业增长放缓（2.9%对3.6%），建筑业（16.2%对18.3%）领涨。与此同时，农业产出大幅增长（5.7%对1.1%）。由于美国关税的影响，NESD将2025年的经济增长预测从早些时候的2.3%至3.3%下调至1.3%至2.3%，并将出口增长预测从3.5%下调至1.8%。去年，国内生产总值增长了2.5%，略低于2.7%的官方目标。

Thailand’s GDP grew by 3.1% yoy in Q1 of 2025, exceeding forecasts of 2.9%. However, the latest result eased from an upwardly revised 3.3% expansion in Q4 of 2024, which was the strongest yearly rise since Q3 of 2022. Private consumption (2.6% vs 3.4% in Q4), government spending (3.4% vs 5.4%), and fixed investment (4.7% vs 5.1%) all showed slower growth. On the trade front, exports (12.3% vs 11.5%) increased faster than imports (2.1% vs 8.2%), contributing positively to GDP, as factories rushed to ship goods ahead of Trump's new tariffs. Production-wise, non-agricultural growth slowed (2.9% vs 3.6%), led by construction (16.2% vs 18.3%). Meanwhile, agricultural output grew sharply (5.7% vs 1.1%). The NESD cut its 2025 economic growth forecast to 1.3% to 2.3% from a range of 2.3% to 3.3% seen earlier, and also lowered its forecast for export growth to 1.8% from 3.5%, due to the impact of US tariffs. Last year, the GDP grew by 2.5%, slightly below the official target of 2.7%.