- 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).
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%.
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.
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.
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%.
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%).
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.
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%).
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%).
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.
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
# The May 2018 data is provisional and subject to revision in later issues.
DATO' SRI DR. MOHD UZIR MAHIDIN
CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
05 JULY 2018
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