Overview
Malaysia's trade performance continued to show its positive trend in April 2024 along with the increase in exports and imports. Total trade rose by RM24.0 billion or 12.1 per cent to reach a value of RM221.7 billion, year-on-year (y-o-y). The trade balance continued to record a surplus amounting to RM7.7 billion, down 39.0 per cent as compared to RM12.6 billion in the same period last year.
A monthly comparison showed a negative performance for the trade sector. Exports recorded a decrease of 10.8 per cent and imports decreased by 7.6 per cent. Accordingly, the total trade decreased by 9.3 per cent and the trade surplus decreased by 39.4 per cent as compared to March 2024.
From January to April 2024, the performance of total trade, exports and imports maintained positive growth as compared to the same period in the previous year. The total trade increased by 8.3 per cent, supported by the expansion of exports (+3.8%) as well as imports (+13.7%).On the other hand, the trade surplus contracted 45.7 per cent.
Chart 1 : Trade Performance: Monthly, Quarterly & Anually
Performance of Exports
Malaysia's exports in April 2024 rebounded to record a positive growth of 9.1 per cent from RM105.2 billion in April 2023 to RM114.7 billion, y-o-y.
This growth was in line with a 14.5 per cent increase in domestic exports to RM91.8 billion from RM80.2 billion, representing 80.0 per cent of total exports.Nevertheless, re-exports, which comprise 20.0 per cent of total exports, shrank 8.3 per cent to RM22.9 billion.
On a monthly comparison, exports declined by 10.8 per cent or RM13.8 billion. Based on analysis of seasonally adjusted terms month-on-month, exports shrank 7.0 per cent to RM112.8 billion.
Chart 2 : Domestic Exports, Re-Exports (RM billion) and Annual Change (%)
Chart 3 : Actual Export Value and Seasonally Adjusted Export Value, RM billion
Performance of Imports
The value of Malaysia's imports in April 2024 continued to record an increase of 15.6 per cent or RM14.5 billion, reaching RM107.0 billion. On a month-to-month basis,imports declined 7.6 per cent or RM8.8 billion. Based on analysis of seasonally adjusted terms, month-on-month imports decreased 8.1 per cent to RM104.5 billion.
On a y-o-y basis, imports by End Use recorded positive growth with increases in intermediate goods (+30.5%), consumption goods (+19.5%) and capital goods (+9.7%).
Chart 4 : Imports, Value (RM billion) and Annual Change (%)
Chart 5 : Actual Import Value and Seasonally Adjusted Imports Value, RM billion
