Overview

KEY FACTS

Malaysia’s trade amounted RM144.8 billion, rebounded to record positive growth in June 2020, expanding by 2.2 per cent compared to the same month last year. On a month-on-month (m-o-m) basis, total trade recorded a double-digit growth of 26.0 per cent. Exports in June 2020 rebounded by 8.8 per cent to RM82.9 billion from a decline of 25.5 per cent in May 2020. This growth was the highest since November 2018. In contrast, imports was valued at RM62.0 billion, declined by 5.6 per cent year-on-year (y-o-y).

Trade surplus widened by 98.7 per cent to RM20.9 billion, the largest trade surplus ever recoded thus far. It also increased by 101.1 per cent from RM10.4 billion when compared to the previous month.    

A. EXPORTS

• Exports in June 2020 was valued at RM82.9 billion, an increase of 8.8 per cent y-o-y, outpacing imports growth for two consecutive months. On a m-o-m basis, it posted a double-digit growth of 32.3 per cent from RM62.6 billion.
• Exports for the second quarter (Q2) of 2020 was lower by 14.3 per cent to RM210.3 billion compared to the same period in 2019.  Compared to the first quarter (Q1) 2020, exports also declined by 11.9 per cent from RM238.7 billion.
• For the first six months of 2020, exports declined by 6.8 per cent to RM449.0 billion compared to the same period in 2019.
• Higher exports in June 2020 was recorded to China, the United States and Hong Kong. However, exports to India decreased.
• Exports of manufactured goods which constituted 87.5 per cent of total exports, grew by 13.7 per cent to RM72.5 billion compared to the same month a year ago. Exports of agriculture goods which represented 7.6 per cent of Malaysia’s exports increased 30.0 per cent to RM6.3 billion y-o-y. Meanwhile, exports of mining goods declined 45.6 per cent to RM3.8 billion, and accounting for 4.6 per cent of Malaysia’s exports.

B. IMPORTS

• Malaysia’s imports in June 2020 stood at RM62.0 billion, shrank by 5.6 per cent or RM3.7 billion compared to June 2019. This was the 4th consecutive  month of decrease since March 2020 but at a smaller magnitude as compared to May 2020. However, compared to the previous month, imports increased 18.6 per cent from RM52.3 billion.
• Imports in Q2 2020 was valued at RM182.7 billion, declined by 15.1 per cent compared to RM215.0  billion in Q2 2019. Compared to the Q1 2020, it also declined by 9.4 per cent.
• In January to June 2020, Malaysia’s imports contracted by 7.2 per cent to RM384.4 billion compared to the same period in 2019.
• Lower imports in June 2020 were recorded from the European Union, Singapore, Thailand, Republic of Korea and Saudi Arabia. However, imports increased from the United States and China.
• Imports of mining goods and manufactured goods declined by 33.5 per cent to RM3.2 billion  and 4.6 per cent to RM53.8 billion respectively. Meanwhile, imports of agriculture goods registered a growth of 14.7 per cent to RM3.7 billion.
• Imports by end use registered a decline for intermediate goods, meanwhile capital goods and consumption goods increased. Imports of intermediate goods decreased by 10.8 per cent to RM34.1 billion. Capital goods grew by 2.8 per cent to RM7.3 billion and consumption goods expanded by 9.0 per cent to RM6.1 billion.

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#Notes:

1. The Jun 2020  data is provisional and subject to revision in later issues.
2. This report can be accessed through the web portal of the Department of Statistics, Malaysia (https://www.dosm.gov.my) under section: Latest Release.
 

Released By:

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

28 JULY 2020

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