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Exports 2018: Palm Oil and PO-based Products, RM67.5 billion
Electrical and Electronic Products was 38.0% of 2018 Exports

Monthly External Trade Statistics March 2018

Release Date : Friday 04, May 2018 1200

 

KEY FACTS :

  • On a year-on-year (y-o-y) basis, exports increased RM1.8 billion (+2.2%) to RM84.5 billion. Re-exports in March 2018 was valued at RM16.1 billion and accounted for 19.1% of total exports. Domestic exports declined 2.6% (-RM1.9 billion) to RM68.4 billion.
  • On a y-o-y basis, imports declined RM7.4 billion (-9.6%) to RM69.8 billion.
  • On a month-on-month (m-o-m) basis, exports expanded RM14.1 billion (+20.1%) from RM70.3 billion. In seasonally adjusted terms, exports registered an increase of 3.5%.
  • On a m-o-m basis, imports also rose RM8.5 billion (+13.8%) from RM61.3 billion. In seasonally adjusted terms, imports declined 2.1%.
  • On a y-o-y basis, exports rose due to higher exports to Hong Kong (+RM2.4 billion), European Union (+RM454.4 million), Thailand (+RM405.4 million), India (+RM340.5 million) and Republic of Korea (+RM288.2 million).
  • On a y-o-y basis,  lower  imports  were  mainly  from  United States (-RM3.9 billion),  China (-RM2.7 billion),  Republic of  Korea  (-RM648.9 million),  Viet Nam  (-RM518.3 million) and Brazil (-RM415.7 million).

TRADE

Total trade which was valued at RM154.2 billion decreased RM5.6 billion or 3.5% from a year ago. However, it posted an increase of RM22.6 billion or 17.1% when compared to the previous month. The trade surplus for March 2018 was RM14.7 billion, up by RM9.3 billion (+172.0%) from a year ago. It also grew  RM5.7 billion or 62.9% when compared to the previous month.

 

EXPORTS

On a y-o-y basis, exports increased 2.2% from RM82.6 billion. The main products which contributed to the increase were:

  • Electrical and electronic (E&E) products (37.7% of total exports), increased RM2.5 billion (+8.7%) to RM31.8 billion; and
  • Crude petroleum, which contributed 4.3% to total exports, rose RM562.2 million or 18.4% to RM3.6 billion due to the increase in both export volume (+14.2%) and average unit value (+3.7%).

However, declines were recorded for the following products:

  • Palm oil and palm oil-based products (7.2% of total exports), recorded a decline of RM427.8 million (-6.6%) to RM6.0 billion. Exports of palm oil, the major commodity in this group of products dropped RM178.5 million or 4.7% due to the decrease in average unit value (-21.7%) although export volume grew 21.7%;
  • Refined petroleum products, which accounted for 5.1% of total exports, shrank RM401.8 million or 8.6% to RM4.3 billion due to the decrease in both export volume (-5.6%) and average unit value (-3.2%);
  • Timber and timber-based products, which accounted for 2.3% of total exports, reduced RM285.5 million or 12.8% to RM1.9 billion;
  • Natural rubber (0.4% of total exports) decreased RM211.9 million or 37.8% to RM349.1 million due to the decline in both average unit value (-35.8%) and export volume (-3.1%); and
  • Liquefied natural gas (LNG), which contributed 3.9% of total exports dropped RM113.8 million or 3.3% to RM3.3 billion due to the decrease in export volume (-13.3%) as average unit value increased 11.5%.

On a m-o-m basis, exports grew RM14.1 billion (+20.1%) from RM70.3 billion. The main products which contributed to the increase were:

  • E&E products went up RM7.2 billion or 29.3% from RM24.6 billion;
  • Crude petroleum expanded RM1.2 billion or 48.5% from RM2.4 billion due to the 55.8% increase in export volume as average unit value decreased 4.7%;
  • Palm oil and palm oil-based products increased RM590.3 million or 10.8% from RM5.5 billion. Exports of palm oil rose RM554.3 million or 18.3% due to the increase in both export volume (+16.8%) and average unit value (+1.2%);
  • Timber and timber-based products grew RM545.1 million or 38.9% from RM1.4 billion;
  • LNG, increased RM403.8 million (+13.9%) from RM2.9 billion due to the increase in both average unit value (+7.7%) and export volume (+5.8%); and
  • Natural rubber rose RM46.1 million or 15.2% from RM303.0 million due to higher increase in export volume (+16.2%) as average unit value fell 0.8%.
     

However, exports of refined petroleum products, registered a decline of RM968.3 million or 18.4% from RM5.3 billion due to the decrease in both export volume (-12.2%) and  average unit value (-7.1%).

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, exports grew RM2.7 billion (+3.5%) to RM80.1 billion.

Exports, 2014-2018

IMPORTS

On a y-o-y basis, imports decreased 9.6% from RM77.2 billion. The decline in imports was mainly attributed to intermediate goods, capital goods and consumption goods.

Intermediate Goods

These goods which constituted 52.8% of total imports dropped RM6.2 billion (-14.4%) to RM36.9 billion. The decrease was mainly attributed to parts and accessories of capital goods (except transport equipment) (-RM4.3 billion, -27.3%), fuel  &  lubricants,  processed,  others  (-RM899.3 million, -36.4%),  food & beverages,  processed,  mainly  for  industries  (-RM678.5 million, -44.9%) and parts and accessories of transport equipment (-RM584.9 million, -19.3%).

Imports of capital goods, which accounted for 13.5% of total imports, decreased RM4.1 billion (-30.5%) to RM9.4 billion due to the decline in both capital goods (except transport equipment) (-RM3.8 billion, -32.9%) and transport equipment, industrial (-RM380.9 million, -18.0%).

Imports of consumption goods  which  accounted  for  7.6%  of  total  imports  recorded  a  decrease  of  RM758.6 million  (-12.4%) to RM5.3 billion.  The decline  was  mainly  attributed  to  semi-durables  (-RM285.6 million, -24.1%),  durables  (-RM223.6 million, -26.4%), non-durables (-RM148.3 million, -10.1%) and food & beverages, primary, mainly for household consumption (-RM120.3 million, -13.1%).

 

On a m-o-m basis, imports rose RM8.5 billion or 13.8% from RM61.3 billion. The increase in imports was contributed by intermediate goods, capital goods and consumption goods.

These goods grew RM4.1 billion (+12.4%) from RM32.8 billion. The main components for the increase were industrial supplies, processed (+RM2.5 billion, +19.6%), fuel & lubricants, primary (+RM712.8 million, +39.8%) and parts and accessories of transport equipment (+RM406.0 million, +19.9%).

Imports of capital goods surged RM1.6 billion or 21.0% from RM7.8 billion due to the increase in both capital goods (except transport equipment) (+RM1.6 billion, +26.1%) and transport equipment, industrial(+RM46.9 million, +2.8%).

Imports of consumption goods increased RM183.9 million (+3.6%) from RM5.2 billion. The increase was due to food & beverages, processed, mainly for household consumptions (+RM271.6 million, +19.9%), food & beverages, primary, mainly for household consumptions (+RM105.2 million, +15.2%) and non-durables (+RM22.7 million, +1.7%).

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, imports decreased RM1.5 billion (-2.1%) to RM68.1 billion.

 Imports, 2014-2018

 

MARKET SHARE

The following charts show Malaysia's major trading partners for January - March 2018

Total Trade by Major Countries, Jan - Mar 2018, percentage share

Exports and Imports by Major Countries, Jan - Mar 2018, percentage share

 

The following charts show Malaysia’s trade with ASEAN countries for January - March 2018

Exports, Jan - Mar 2018, percentage share

Imports, Jan - Mar 2018, percentage share

 

Notes:

# The March 2018 data is provisional and subject to revision in later issues.

 

Released By:

THE OFFICE OF CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
 DrUzir_Mahidin       Dr_Uzir


04 MAY 2018

Contact person:

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