Malaysia’s exports in September 2020, amounted to RM88.9 billion rebounded to register a double-digit growth of 13.6 per cent compared with same month in 2019. Imports continued to register a negative growth with a smaller magnitude of 3.6 per cent from RM69.4 billion to RM67.0 billion. Trade surplus was valued at RM22.0 billion and this was the second highest monthly trade surplus after July 2020 with a growth of 149.3 per cent year-on-year (y-o-y). Total trade totalled RM155.9 billion, expanded by 5.5 per cent.
On a month-on-month (m-o-m) basis, exports, imports, total trade and trade balance recorded an increase of 12.4 per cent, 1.6 per cent, 7.5 per cent and 66.3 per cent respectively.
- Exports in September 2020 was valued at RM88.9 billion, rebounded to record a double-digit growth of 13.6 per cent y-o-y, outpacing imports growth for five consecutive months. On a m-o-m basis, it also rose by 12.4 per cent from RM79.1 billion.
- Exports in the third quarter (Q3) of 2020, stood at RM260.6 billion, grew by 4.4 per cent as compared to Q3 2019. In comparison to the second quarter (Q2) 2020, exports registered a strong growth of 24.0 per cent from RM210.3 billion.
- For the first nine months of 2020, exports declined by 3.7 per cent from RM736.8 billion to RM709.6 billion as compared to the same period in 2019.
- Exports to China, the European Union, the United States, Hong Kong and Singapore were the main contributor to the growth of exports in September 2020.
- Exports of manufactured goods with a value of RM78.0 billion, made up 87.7 per cent of total exports, picked up by 16.3 per cent as compared to the same month a year ago. Exports of agriculture goods (RM6.5 billion), which represented 7.4 per cent of Malaysia’s exports expanded by 26.6 per cent. Meanwhile, exports of mining goods (RM4.0 billion) was lower by 27.4 per cent and accounting for 4.5 per cent of Malaysia’s exports.
- Malaysia’s imports in September 2020 was valued at RM67.0 billion, shrank by 3.6 per cent or RM2.5 billion compared with September 2019. This was the seventh consecutive month of decrease since March 2020. Meanwhile, on m-o-m basis, imports grew by 1.6 per cent from RM65.9 billion.
- Imports in the Q3 of 2020, stood at RM200.3 billion, decreased by 6.3 per cent compared with Q3 2019. However in comparison to Q2 2020, imports registered an increase of 9.6 per cent.
- In the period of January to September 2020, Malaysia’s imports contracted by 6.9 per cent from RM628.0 billion to RM584.6 billion compared with same period in 2019.
- In September 2020, a decrease of imports from Singapore, Republic of Korea, the European Union, and Thailand contributed to the decrease in imports.
- Imports of manufactured goods in September 2020 amounted to RM58.2 billion, comprised 86.9 per cent of total imports, declined by 3.0 per cent y-o-y. Imports of agriculture goods (6.1% of total imports) expanded by 23.9 per cent from RM3.3 billion to RM4.1 billion, while imports of mining goods with a share of 4.6 per cent from the total imports, dropped by 40.3 per cent from RM5.5 billion to RM3.1 billion.
- Imports by end use registered a decline for intermediate goods and capital goods. Imports of intermediate goods (RM32.8 billion) decreased by 17.8 per cent and capital goods (RM7.7 billion) shrank by 1.8 per cent. Meanwhile, imports of consumption goods increased by 11.2 per cent from RM6.0 billion to RM6.6 billion.
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1. The September 2020 data is provisional and subject to revision in later issues.
2. This report can be accessed through the web portal of the Department of Statistics, Malaysia (https://www.dosm.gov.my) under section: Latest Release.
DATO' SRI DR. MOHD UZIR MAHIDIN
CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
28 October 2020
Mohd Yusrizal Ab Razak
Public Relation Officer
Strategic Communication and International Division
Department of Statistics, Malaysia
Tel : +603-8885 7942
Fax : +603-8888 9248
E-mail : yusrizal.razak[at]dosm.gov.my