- On a year-on-year (y-o-y) basis, exports fell marginally RM215.2 million or 0.3% to RM81.8 billion. This is the second time exports recorded a decrease in 2018 after February due to high base effect. Re-exports in August 2018 was valued at RM13.5 billion and accounted for 16.5% of total exports. Domestic exports reduced 4.1% (-RM2.9 billion) to RM68.3 billion.
- On a y-o-y basis,imports recorded a double digit growth of 11.2% or RM8.1 billion to RM80.2 billion.
- Trade surplus recorded the lowest value since November 2014 at RM1.6 billion .
- On a m-o-m basis, exports decreased RM4.3 billion or 5.0% from RM86.2 billion. In seasonally adjusted terms, exports decreased 11.0%.
- On a month-on-month (m-o-m) basis, imports grew RM2.4 billion (+3.0%) from RM77.8 billion. In seasonally adjusted terms, imports registered an increase of 4.0%.
- On a y-o-y basis, lower in exports were mainly to Japan (-RM1.4 billion), European Union (-RM745.3 million), Turkey (-RM542.7 million), Switzerland (-RM508.0 million) and India (-RM387.5 million).
- On a y-o-y basis, higher imports were mainly from China (+RM2.9 billion), Saudi Arabia (+RM1.8 billion), European Union (+RM1.3 billion), Taiwan (+RM1.3 billion) and Indonesia (+RM785.4 million).
Total trade which was valued at RM162.0 billion expanded RM7.9 billion or 5.1% from a year ago. However,when compared to the previous month,it posted a decrease of RM2.0 billion or 1.2%. The trade surplus for August 2018 was RM1.6 billion, fell RM8.3 billion (-83.7%) from a year ago. It also posted a decrease of RM6.7 billion or 80.7% when compared to the previous month.
On a y-o-y basis, exports decreased 0.3% from RM82.0 billion. The main products which contributed to the decrease were:
- Palm oil and palm oil-based products (6.2% of total exports), shrank RM1.5 billion (-22.9%) to RM5.1 billion. Exports of palm oil, the major commodity in this group of products declined RM1.0 billion or 26.8% due to the decrease in both export volume (-15.2%) and average unit value (-13.7%);
- Liquefied natural gas (LNG), which accounted for 3.9% of total exports decreased RM918.3 million or 22.5% to RM3.2 billion due to the decline in export volume (-28.6%) although average unit value increased 8.6%;
- Timber and timber-based products, which contributed 2.4% to total exports, recorded a drop of RM49.0 million or 2.4% to RM2.0 billion; and
- Natural rubber (0.4% of total exports) fell RM39.5 million or 10.5% to RM337.0 million due to the decrease in average unit value (-14.3%) although export volume grew 4.4%.
However, increases were recorded for the following products:
- Crude petroleum, which contributed 4.0% to total exports increased RM1.3 billion or 64.9% to RM3.3 billion due to the increase in both average unit value (+45.5%) and export volume (+13.4%);
- Electrical and electronic (E&E) products (39.2% of total exports), increased RM985.5 million (+3.2%) to RM32.0 billion; and
- Refined petroleum products, which accounted for 5.5% of total exports,grew RM232.2 million or 5.4% to RM4.5 billion due to the increase in average unit value(+29.1%) as export volume, decreased 18.4%.
On a m-o-m basis, exports fell RM4.3 billion (-5.0%) from RM86.2 billion. The main products which contributed to the decrease were:
- E&E products decreased RM2.5 billion (-7.1%) from RM34.5 billion;
- Refined petroleum products dropped RM953.1 million or 17.4% from RM5.5 billion due to the decrease in export volume (-20.0%) although average unit value increased 3.3%;
- Crude petroleum decreased RM528.2 million or 13.8% from RM3.8 billion due to the fall in export volume (-14.9%) as average unit value increased 1.2%; and
- Palm oil and palm oil-based products fell RM438.0 million or 8.0% from RM5.5 billion. Exports of palm oil decreased RM240.1 million or 8.0% due to the decrease in both export volume (-4.4%) and average unit value (-3.8%).
Nevertheless, the following products increased:
- LNG increased RM743.6 million (+30.7%) from RM2.4 billion due to the increase in both export volume (+18.6%) and average unit value (+10.3%);
- Timber and timber-based products increased RM63.8 million or 3.3% from RM1.9 billion; and
- Natural rubber grew RM2.2 million or 0.7% from RM334.8 million due to the growth in export volume (+2.1%) although average unit value dropped 1.4%.
Seasonally Adjusted Figure
On a m-o-m basis seasonally adjusted terms, exports decreased RM9.9 billion (-11.0%) to RM79.9 billion.
On a y-o-y basis, imports increased 11.2% to RM80.2 billion. The growth in imports by end use was mainly attributed to capital goods, intermediate goods and consumption goods.
Imports of capital goods, which accounted for 14.5% of total imports, rose RM2.3 billion (+25.3%) to RM11.7 billion due to the growth in both transport equipment, industrial (+RM1.2 billion, +180.2%) and capital goods (except transport equipment) (+RM1.1 billion, +13.1%).
These goods which constituted 56.1% of total imports increased RM1.9 billion (+4.3%) to RM45.0 billion. The increase was attributed to industrial supplies, processed (+RM2.3 billion, +14.5%), fuel & lubricants, primary (+RM2.2 billion, +126.4%) and parts & accessories of transport equipment (+RM778.0 million, +33.1%). However, decrease was recorded in parts and accessories of capital goods (except transport equipment) (-RM3.2 billion, -17.3%).
Imports of consumption goods which constituted for 8.9% of total imports recorded an increase of RM888.0 million (+14.2%) to RM7.1 billion. The increase was mainly attributed to durables (+RM453.1 million, +57.9%), semi-durables (+RM344.4 million, +26.2%) and non-durables (+RM98.8 million, +6.3%).
On a m-o-m basis, imports rose RM2.4 billion or 3.0% from RM77.8 billion. The increase in imports by end use was contributed by intermediate goods, capital goods and consumption goods.
These goods increased RM5.1 billion (+12.8%) from RM39.9 billion. The main components contributing to the increase were parts & accessories of capital goods (except transport equipment) (+RM4.1 billion, +37.0%), fuel & lubricants, primary (+RM585.7 million, +17.3%) and parts & accessories of transport equipment (+RM467.8 million, +17.6%).
Imports of capital goods grew RM2.0 billion (+21.2%) from RM9.6 billion due to the increase in both capital goods (except transport equipment) (+RM1.6 billion, +19.3%) and transport equipment, industrial (+RM465.2 million, +32.7%).
Imports of these goods registered an increase of RM466.7 million (+7.0%) from RM6.7 billion. This expansion was due to durables (+RM278.7 million, +29.1%) and semi-durables (+RM151.3 million, +10.0%).
Seasonally Adjusted Figure
On a m-o-m basis seasonally adjusted terms, imports increased RM3.1 billion (+4.0%) to RM78.9 billion.
Imports, 2014 - 2018
The following charts show Malaysia's major trading partners for January - August 2018.
Total Trade by Major Countries, Jan – Aug 2018, percentage share
Exports and Imports by Major Countries, Jan – Aug 2018, percentage share
The following charts show Malaysia’s trade with ASEAN countries for January – August 2018.
Exports, Jan - Aug 2018, percentage share
Imports, Jan – Aug 2018, percentage share
Import.png" style="width: 650px; height: 406px;" />
# The August 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 OCTOBER 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