KEY FACTS

• Exports in May 2018 was valued at RM82.1 billion, continued to surpass the RM80.0 billion mark, increasing by 3.4% year-on-year (y-o-y). This is the 5th consecutive month where export growth has outpaced imports. Re-exports was valued at RM16.3 registering an increase of 21.4% y-o-y and accounted for 19.8% of total exports. Domestic exports was lower by 0.3% decreasing RM178.0 million to RM65.9 billion.
• Imports recorded a marginal increase of 0.1% y-o-y to RM74.0 billion.
• On a month-on-month (m-o-m) basis, exports recorded a decrease of 2.5% or RM2.1 billion from RM84.2 billion. In seasonally adjusted terms, exports also shrank 3.3%.
• On a m-o-m basis, imports posted a growth of 3.9% or RM2.8 billion from RM71.2 billion. However, in seasonally adjusted terms, imports decreased 1.7%.
• On a y-o-y basis, export growth was contributed by expansion in exports to Hong Kong (+RM1.4 billion), European Union (+RM913.2 million), Viet Nam (+RM904.4 million), China (+RM795.3 million), and Japan (+RM769.3 million).
• On a y-o-y basis, higher imports were mainly from China (+RM1.13 billion), Taiwan (+RM1.11 billion), Singapore (+RM976.3 million), Saudi Arabia (+RM676.6 million) and Republic of Korea (+RM561.6 million).

TRADE

Total trade which was valued at RM156.1 billion increased RM2.8 billion or 1.8% from a year ago. It also posted a growth of RM631.8 million or 0.4% when compared to the previous month. The trade surplus was RM8.1 billion, an expansion of RM2.6 billion (+47.1%) from a year ago. However, when compared to the previous month, it fell RM4.9 billion or 37.7%.

EXPORTS

On a y-o-y basis, exports increased 3.4% to RM82.1 billion. The main products which contributed to the increase were:

• Liquefied natural gas (LNG), which accounted for 3.8% of total exports expanded RM1.2 billion or 61.0% to RM3.1 billion due to the increase in export volume (+68.7%) as average unit value decreased 4.6%;
• Crude petroleum, which contributed 3.8% to total exports increased RM975.3 million or 45.8% to RM3.1 billion due to the increase in both average unit value (+22.2%) and export volume (+19.3%);
• Refined petroleum products, which contributed 8.7% to total exports, rose RM649.4 million or 10.0% to RM7.1 billion due to the increase in average unit value (+16.8%) as export volume decreased 5.8%; and
• Electrical and electronic (E&E) products (35.5% of total exports), increased RM608.3 million (+2.1%) to RM29.2 billion.

However, declines were recorded for the following products:

• Palm oil and palm oil-based products (7.0% of total exports), dropped RM1.0 billion (-15.4%) to RM5.8 billion. Exports of palm oil, the major commodity in this group of products declined RM1.0 billion or 24.2% due to the decrease in both export volume (-14.5%) and average unit value (-11.4%);
• Timber and timber-based products, which accounted for 2.1% of total exports, shrank RM288.0 million or 14.3% to RM1.7 billion; and
• Natural rubber (0.4% of total exports) decreased RM78.9 million or 19.1% to RM334.9 million due to the decline in average unit value (-29.1%) as export volume increased 14.2%.

On a m-o-m basis, exports declined RM2.1 billion (-2.5%) from RM84.2 billion. The main products which contributed to the decrease were:

• Electrical and electronic (E&E) products dropped RM2.7 billion (-8.4%) from RM31.9 billion;
• Palm oil and palm oil-based products declined RM311.9 million or 5.1% from RM6.1 billion. Exports of palm oil decreased RM530.6 million or 14.3% due to the decrease in export volume (-15.2%) as average unit value rose marginally 1.0%; and
• Timber and timber-based products decreased RM126.2 million or 6.8% from RM1.9 billion.

However, increases were recorded for the following products:

• Refined petroleum products, expanded RM1.9 billion or 36.8% from RM5.2 billion due to the increase in both export volume (+29.1%) and average unit value (+6.0%);
• LNG, increased RM281.9 million (+9.9%) from RM2.8 billion due to the increase in export volume (+11.2%) as average unit value decreased 1.2%;
• Crude petroleum rose RM209.6 million or 7.2% from RM2.9 billion due to the increase in both average unit value (+5.1%) and export volume (+2.0%); and
• Natural rubber increased RM18.9 million or 6.0% from RM316.0 million due to the higher export volume (+7.6%) as average unit value decreased 1.5%.

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, exports declined RM2.9 billion (-3.3%) to RM84.8 billion.

Exports, 2014-2018

 

IMPORTS

On a y-o-y basis, imports increased marginally by 0.1% to RM74.0 billion. However, all main categories of imports by end use and broad economic categories classifications recorded a decrease.

•  Intermediate Goods

These goods which constituted for 54.1% of total imports fell RM2.3 billion (-5.3%) to RM40.1 billion. The decrease was mainly attributed to parts & accessories of capital goods (except transport equipment) (-RM1.8 billion, -11.3%), industrial supplies, processed (-RM1.3 billion, -7.8%) and fuel & lubricants, processed, other (-RM1.1 billion, -41.2%). However, fuel & lubricants, primary increased RM2.2 billion or 125.4%.

•  Consumption Goods

Imports  of  consumption  goods  which  constituted  for 8.1%  of  total  imports  recorded  a  decrease  of  RM678.1 million   (-10.2%) to RM6.0 billion. The decrease was mainly attributed to semi-durables (-RM322.9 million, -21.0%), food & beverages, primary, mainly for household consumption (-RM112.1 million, -12.3%) and non-durables (-RM100.5 million, -6.4%).

•  Capital Goods

Imports of capital goods, which accounted for 13.3% of total imports, declined RM65.5 million (-0.7%) to RM9.8 billion due to the decrease in capital good (except transport equipment) (-RM1.3 billion, -15.3%). However, transport equipment, industrial increased RM1.3 billion or 105.6%.

On a m-o-m basis, imports rose RM2.8 billion or 3.9% from RM71.2 billion. The increase in imports was contributed by intermediate goods, capital goods and consumption goods.

•  Intermediate Goods

These goods expanded RM6.2 billion (+18.3%) from RM33.9 billion. The main components for the increase were parts & accessories of capital good (except transport equipment) (+RM4.1 billion, +40.8%), fuel & lubricants, primary (+RM1.6 billion, +63.3%) and industrial supplies, processed (+RM1.0 billion, +7.5%).

•  Capital Goods

Imports of capital goods increased RM1.4 billion (+17.1%) from RM8.4 billion due to the increase in both transport equipment, industrial (+RM1.3 billion, +109.4%) and capital goods (except transport equipment) (+RM150.1 million, +2.1%).

•  Consumption Goods

Imports of these goods rose RM419.1 million (+7.5%) from RM5.6 billion. The increase was due to non-durables (+RM226.7 million, +18.2%), semi-durables (+RM77.0 million, +6.8%) and durables (+RM59.3 million, +8.0%).

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, imports decreased RM1.3 billion (-1.7%) to RM72.8 billion.

 Imports, 2014-2018

MARKET SHARE

The following charts show Malaysia's major trading partners for January - May 2018.

              Total Trade by Major Countries, Jan - May 2018, percentage share

Exports and Imports by Major Countries, Jan - May 2018, percentage share

The following charts show Malaysia’s trade with ASEAN countries for January - May 2018.

Exports, Jan - May 2018, percentage share

Imports, Jan - May 2018, percentage share

Notes:

# The May 2018 data is provisional and subject to revision in later issues.

 

Released By:

DATO' SRI DR. MOHD UZIR MAHIDIN
CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
 DrUzir_Mahidin       Dr_Uzir

05 JULY 2018

Contact person:
Ho Mei Kei
Public Relation Officer
Strategic Communication and International Division
Department of Statistics, Malaysia
Tel : +603-8885 7942
Fax : +603-8888 9248
Email : mkho[at]dosm.gov.my

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