- On a year-on-year (y-o-y) basis, exports decreased RM4.4 billion (-6.7%) to RM60.5 billion.
- On a y-o-y basis, imports declined RM4.2 billion (-7.2%) to RM54.9 billion.
- On a month-on-month (m-o-m) basis, exports grew RM72.5 million (+0.1%) from RM60.4 billion. In seasonally adjusted terms, exports rose 1.1%.
- On a m-o-m basis, imports increased RM1.4 billion (+2.7%) from RM53.5 billion. In seasonally adjusted terms, imports expanded by 1.5%.
- On a y-o-y basis, exports decreased due to lower exports to Japan (-RM2.0 billion), Australia (-RM1.1 billion), Taiwan (-RM527.6 million), Indonesia (-RM475.5 million) and The United States of America (-RM269.2 million).
- On a y-o-y basis, the decrease in imports were mainly from European Union (-RM674.5 million), Singapore (-RM672.1 million), United Arab Emirates (-RM659.5 million), The United States of America (-RM641.7 million) and Australia (-RM585.9 million).
Total trade in May 2015, which was valued at RM115.4 billion, decreased RM8.6 billion or 6.9% from a year ago. However, it posted a growth of 1.3% or RM1.5 billion from the previous month. A trade surplus of RM5.5 billion was recorded in May 2015, a decline of 2.3% from RM5.6 billion registered a year ago. It also fell 19.7% from RM6.9 billion when compared with the previous month.
On a y-o-y basis, exports decreased 6.7% from RM64.8 billion. The main commodities which contributed to the decline were:
- Liquefied natural gas (LNG), which contributed 4.4% to total exports, dropped 47.9% or RM2.4 billion to RM2.6 billion as a result of both lower average unit value (-47.2%) and export volume (-1.5%);
- Refined petroleum products, which accounted for 6.3% of total exports, fell RM1.5 billion or 28.3% to RM3.8 billion due to the decrease in average unit value (-27.2%) and export volume (-1.4%);
- Crude petroleum (3.8% of total exports), fell RM645.0 million (-22.1%) to RM2.3 billion mainly due to the decline in average unit value (-37.4%) although export volume increased 24.5%;
- Palm oil and palm-based products, which contributed 8.8% to total exports, declined RM418.0 million (-7.3%) to RM5.3 billion. Exports of palm oil, the major commodity in this group of products fell 3.6% or RM129.4 million due to the decrease in average unit value (-17.9%) although export volume increased 17.4%;
- Natural rubber (0.4% of total exports), declined RM162.4 million (-42.4%) to RM220.7 million due to the decrease in both export volume (-31.9%) and average unit value (-15.4%);
- Electrical and electronics (E&E) products, which accounted 34.9% of total exports, decreased RM126.1 million (-0.6%) to RM21.1 billion; and
- Timber and timber-based products, which contributed 2.9% of total exports, dropped RM81.8 million or 4.5% to RM1.7 billion.
On a m-o-m basis, exports grew RM72.5 million (+0.1%) due to:
- Refined petroleum products, rose RM1.1 billion (+40.1%) from RM2.7 billion due to the increase in export volume (+47.5%) although average unit value decreased 5.0%;
- Palm oil and palm based-products increased RM729.2 million or 15.9% from RM4.6 billion. Exports of palm oil rose 24.7% or RM688.9 million due to the increase in export volume (+30.6%) although average unit value decreased 4.6%;
- Crude petroleum increased 18.7% or RM359.1 million from RM1.9 billion due to the increase in both export volume (+16.1%) and average unit value (+2.3%); and
- E&E products increased RM47.0 million (+0.2%) from RM21.0 billion.
However, declines were recorded for the following products:
- LNG, decreased RM557.4 million (-17.4%) from RM3.2 billion due to the decline in average unit value (-24.3%) although export volume increased 9.1%;
- Timber and timber-based products, fell RM94.3 million or 5.2% from RM1.8 billion; and
- Natural rubber, dropped RM48.1 million (-17.9%) from RM268.9 million due to the lower export volume (-17.4%) and average unit value (-0.6%).
Seasonally Adjusted Figure
On a m-o-m basis seasonally adjusted terms, exports rose RM676.7 million (+1.1%) to RM61.5 billion.
On a y-o-y basis, imports decreased 7.2% from RM59.2 billion. The decrease in imports was mainly attributed to intermediate goods and capital goods.
These goods which constituted 57.6% of total imports dropped RM2.9 billion (-8.4%) to RM31.7 billion. The decrease were mainly attributed to industrial supplies, processed (-RM1.5 billion, -11.1%) and fuel & lubricants, primary (-RM1.2 billion, -41.7%).
Imports of these goods which represented 14.5% of total imports declined RM415.7 million or 5.0% to RM8.0 billion due to the decrease in capital goods (except transport equipment) (-RM284.4 million, -4.1%) and transport equipment, industrial (-RM131.4 million, -9.7%).
Imports of consumption goods which accounted for 9.8% of total imports expanded RM1.2 billion (+27.2%) to RM5.4 billion. The main components contributing to the increase were semi-durables (+RM747.5 million, +143.4%), food & beverages, processed, mainly for household consumption (+RM212.3 million, +17.9%) and non-durables (+RM118.8 million, +10.9%).
On a m-o-m basis, imports rose RM1.4 billion or 2.7% to RM54.9 billion. The rise in imports was attributed to capital goods and consumption goods.
Imports of capital goods grew RM959.4 million or 13.7% from RM7.0 billion due to the increase in transport equipment, industrial (+RM832.6 million, +212.7%) and capital goods (except for transport equipment) (+RM126.8 million, +1.9%).
Imports of consumption goods rose RM551.9 million (+11.4%) from RM4.9 billion. The main components contributing to the increase were semi-durables (+RM282.4 million, +28.6%) and food & beverages, processed, mainly for household consumption (+RM92.2 million, +7.0%).
These goods fell RM197.5 million (-0.6%) from RM31.9 billion. The main components which contributed to the decrease were food & beverages, primary, mainly for industries (-RM229.0 million, -36.6%) and parts and accessories of capital goods (except transport equipment) (-RM131.7 million, -1.1%).
Seasonally Adjusted Figure
On a m-o-m basis seasonally adjusted terms, imports increased RM797.1 million (+1.5%) to RM53.8 billion.
The following charts show Malaysia's major trading partners for January - May 2015.
Total Trade by Major Countries, Jan - May 2015, percentage share
Exports and Imports by Major Countries, Jan - May 2015, percentage share
The following charts show Malaysia’s trade with ASEAN countries for January - May 2015.
Exports, Jan – May 2015, percentage share
Imports, Jan – May 2015, percentage share
# The May 2015 data is provisional and subject to revision in later issues.
THE OFFICE OF CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
03 JULY 2015
Norrita binti Amran
Public Relation Officer
Corporate and User Services Division
Department of Statistics, Malaysia
Tel : +603-8885 7942
Fax : +603-8888 9248
Email : [email protected]