KEY FACTS :
- On a year-on-year (y-o-y) basis, exports continued to register a strong growth with an increase of RM14.6 billion (+21.5%) to RM82.2 billion. Value of re-exports recorded RM11.2 billion and accounted for 13.6% of total exports. Domestic exports grew by RM12.9 billion (+22.1%) to RM71.1 billion.
- On a y-o-y basis, imports was also in a similar trend increasing by RM13.3 billion (+22.6%) to RM72.4 billion.
- On a month-on-month (m-o-m) basis, exports rose RM3.6 billion (+4.6%) from RM78.6 billion. In seasonally adjusted terms, exports declined 1.7%.
- On a m-o-m basis, imports also grew RM1.8 billion (+2.5%) from RM70.6 billion. In seasonally adjusted terms, imports increased 5.2%.
- On a y-o-y basis, exports increased due to the higher exports to Singapore (+RM2.1 billion, +20.5%), China (+RM2.0 billion, +21.2%), European Union (+RM1.5 billion, +21.6%) and Taiwan (+RM1.0 billion, +64.8%).
- On a y-o-y basis, higher imports were mainly from Singapore (+RM3.7 billion, +63.5%), European Union (+RM1.6 billion, +31.2%), China (+RM1.5 billion, +12.3%) and Taiwan (+RM1.0 billion, +27.2%).
Total trade was valued at RM154.6 billion, an expansion of RM27.9 billion or 22.0% from a year ago. It also posted an increase of RM5.4 billion or 3.6% when compared to the previous month. A trade surplus of RM9.9 billion was recorded in August 2017, an increase of RM1.2 billion (+14.4%) from RM8.6 billion registered a year ago. When compared to the previous month, it also posted a growth of RM1.8 billion or 22.8%.
On a y-o-y basis, exports expanded 21.5% from RM67.7 billion. The main products which contributed to the increase were:
- Electrical and electronic (E&E) products (37.8% of total exports), increased RM5.2 billion (+20.1%) to RM31.0 billion;
- Liquefied natural gas (LNG) (4.8% of total exports), increased RM2.0 billion or 101.8% to RM4.0 billion due to the strong increase in both export volume (+57.4%) and average unit value (+28.2%);
- Refined petroleum products, which accounted for 5.2% of total exports, rose RM1.1 billion or 35.5% to RM4.3 billion due to the increase in both average unit value (+19.6%) and export volume (+13.3%);
- Natural rubber, which contributed 0.5% to total exports, increased RM120.3 million or 47.0% to RM376.5 million due to the increase in both average unit value (+23.8%) and export volume(+18.7%);
- Timber and timber-based products, which accounted for 2.5% of total exports, increased RM117.0 million or 6.1% to RM2.0 billion; and
- Crude petroleum, which contributed 2.3% to total exports, increased marginally by RM0.8 million or 0.04% to RM1.9 billion as the 11.4% increase in average unit value was somewhat offset by the lower export volume (-10.2%).
However, the following product recorded a decrease:
- Palm oil and palm oil-based products (8.0% of total exports), recorded a decrease of RM101.2 million (-1.5%) to RM6.6 billion. Exports of palm oil, the major commodity in this group of products declined RM525.0 million or 12.1% due to the 21.2% decrease in export volume although average unit value increased 11.5%.
On a m-o-m basis, exports grew RM3.6 billion (+4.6%) from RM78.6 billion. The main products which registered increases were as follows:
- E&E products expanded RM3.1 billion or 11.2% from RM27.9 billion;
- Palm oil and palm oil-based products rose RM190.1 million or 3.0% from RM6.4 billion mainly due to the increase of RM166.1 million (+10.4%) in palm oil-based oleochemical;
- LNG grew RM178.3 million or 4.7% from RM3.8 billion due to the increase in both export volume (+4.5%) and average unit value (+0.2%);
- Timber and timber-based products increased RM121.7 million or 6.3% from RM1.9 billion; and
- Natural rubber increased RM52.4 million or 16.2% from RM324.1 million due to the increase in export volume (+17.2%) as average unit value decreased 0.9%.
However, decreases were recorded for the following products:
- Refined petroleum products declined RM2.0 billion or 31.2% from RM6.3 billion due to the decrease in both export volume (-30.8%) and average unit value (-0.6%); and
- Crude petroleum shrank RM81.5 million or 4.1% from RM2.0 billion due to the decrease in both export volume (-3.8%) and average unit value (-0.3%).
Seasonally Adjusted Figure
On a m-o-m basis seasonally adjusted terms, exports decreased RM1.4 billion (-1.7%) to RM80.2 billion.
On a y-o-y basis, imports grew RM13.3 billion (+22.6%) from RM59.0 billion. This expansion was attributed to higher imports of intermediate goods, capital goods and consumption goods.
These goods which constituted 59.7% of total imports expanded RM8.8 billion (+25.5%) to RM43.2 billion. The growth was mainly attributed to parts & accessories of capital goods (except transport equipment) (+RM6.0 billion, +48.1%) and industrial supplies, processed (+RM1.3 billion, +9.2%).
Imports of these goods which represented 12.6% of total imports grew RM1.0 billion or 12.7% to RM9.1 billion due to the increase in capital goods (except transport equipment) (+RM1.4 billion, +18.7%). However, imports of transport equipment, industrial decreased RM330.4 million (-40.2%).
Imports of consumption goods which accounted for 8.6% of total imports recorded an increase of RM943.3 million (+17.8%) to RM6.2 billion. The increase was mainly attributed to food & beverages, processed, mainly for household consumption (+RM353.6 million, +26.4%), non-durables (+RM256.8 million, +19.6%) and semi-durables (+RM217.5 million, +19.8%).
On a m-o-m basis, imports also rose RM1.8 billion or 2.5% from RM70.6 billion. The increase in imports was attributed to intermediate goods and consumption goods.
Imports of intermediate goods expanded RM3.3 billion (+8.3%) from RM39.9 billion due to the increase in parts & accessories of capital goods (except transport equipment)(+RM2.0 billion, +12.5%) and fuel & lubricants, processed, others (+RM1.1 billion, +172.9%).
These goods increased RM242.8 million (+4.1%) from RM6.0 billion. The main components which registered significant increases were food & beverages, processed, mainly for household consumption (+RM104.4 million, +6.6%), non-durables (+RM77.0 million, +5.2%) and semi-durables (+RM72.7 million, +5.8%).
Imports of capital goods fell RM93.0 million (-1.0%) from RM9.2 billion. The decrease was attributed to transport equipment, industrial (-RM583.7 million, -54.3%). However, imports of capital goods (except transport equipment) increased RM490.7 million or 6.1%.
Seasonally Adjusted Figure
On a m-o-m basis seasonally adjusted terms, imports increased RM3.5 billion (+5.2%) to RM71.4 billion.
The following charts show Malaysia's major trading partners for January- August 2017
Total Trade by Major Countries, Jan- Aug 2017, percentage share
Exports and Imports by Major Countries, Jan- Aug 2017, percentage share
The following charts show Malaysia’s trade with ASEAN countries for January-August 2017
Exports, Jan- Aug 2017, percentage share
Imports, Jan- Aug 2017, percentage share
# The August 2017 data is provisional and subject to revision in later issues.
THE OFFICE OF CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
06 OCTOBER 2017
Ho Mei Kei
Public Relation Officer
Corporate and User Services Division
Department of Statistics, Malaysia
Tel : +603-8885 7942
Fax : +603-8888 9248
Email : mkho[at]stats.gov.my