Malaysia’s exports in August 2020 slipped by 2.9 per cent year-on-year (y-o-y) to RM79.1 billion, while imports amounted to RM65.9 billion, a contraction of 6.5 per cent. This has resulted in a trade surplus of RM13.2 billion in August 2020, a growth of 19.7 per cent y-o-y. Total trade was valued at RM145.1 billion, lower by 4.6 per cent y-o-y.
On a month-on-month (m-o-m) basis, exports, imports, total trade and trade surplus registered a decline of 14.5 per cent, 2.2 per cent, 9.3 per cent and 47.5 per cent respectively.
For the first eight months of 2020, exports amounted RM620.6 billion, decreased by 5.8 per cent compared to the same period of 2019. Meanwhile imports declined by 7.3 per cent to RM517.7 billion. Total trade stood at RM1.1 trillion, also declining by 6.5 per cent. In contrast, trade surplus recorded an increase of 2.9 per cent to RM103.0 billion.
- Exports in August 2020 was valued at RM79.1 billion, slipped by 2.9 per cent y-o-y, outpacing imports growth for four consecutive months. On a m-o-m basis, it also declining by 14.5 per cent from RM92.6 billion.
- For the first eight months of 2020, exports declined by 5.8 per cent to RM620.6 billion compared to the same period in 2019.
- Lower exports in August 2020 was recorded to Bangladesh, Thailand, India, Japan, and Indonesia. However, exports to China and the United States increased.
- Exports of manufactured goods which constituted 86.6 per cent of total exports, decreased by 0.1 per cent to RM68.6 billion compared to the same month a year ago. Exports of agriculture goods which represented 7.2 per cent of Malaysia’s exports declined by 4.5 per cent to RM5.7 billion y-o-y. Meanwhile, exports of mining goods lower by 25.9 per cent to RM4.6 billion, and accounting for 5.8 per cent of Malaysia’s exports.
- Malaysia’s imports in August 2020 stood at RM65.9 billion, declined by 6.5 per cent or RM4.5 billion compared to August 2019. This was the 6th consecutive month of decrease since March 2020. On m-o-m basis, imports also declined by 2.2 per cent from RM67.4 billion.
- In January to August 2020, Malaysia’s imports contracted by 7.3 per cent to RM517.7 billion compared to the same period in 2019.
- Lower imports in August 2020 were recorded from China, Republic of Korea, the European Union, Thailand and Singapore. However, higher imports were recorded from Taiwan and Switzerland.
- Imports of manufactured goods declined by 8.6 per cent y-o-y to RM56.2 billion and accounting for 85.2 per cent of Malaysia’s imports. Imports of mining goods which made up 6.4 per cent of total imports decreased by 3.9 per cent y-o-y to RM4.2 billion. However, imports of agriculture goods which represented 5.6 per cent of total imports, increased by 1.8 per cent to RM3.7 billion.
- Imports by end use registered a decline for capital goods and intermediate goods which decreased by 15.5 per cent and 5.6 per cent respectively. Meanwhile, imports of consumption goods increased by 2.9 per cent compared to August 2019.
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1. The August 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 September 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