Overview

KEY FACTS :

• On a month-on-month (m-o-m) basis, exports rose RM7.7 billion (+12.9%) from RM59.9 billion. In seasonally adjusted terms, exports rose 9.0%.
• On a m-o-m basis, imports also grew RM1.1 billion (+1.9%) from RM57.9 billion. In seasonally adjusted terms, imports expanded 7.2%.
• On a year-on-year (y-o-y) basis, exports grew RM1.0 billion (+1.5%) to RM67.6 billion. 
• On a y-o-y basis, imports also increased RM2.7 billion (+4.9%) to RM59.1 billion.
• On a m-o-m basis, the rise in exports were mainly to China (+RM2.0 billion), India (+RM972.6 million), Singapore (+RM858.7 million), European Union (+RM812.2 million) and United States of America (+RM592.8 million).
• On a m-om basis, higher imports were mainly from China (+RM932.6 million), Saudi Arabia (+RM664.9 million), Viet Nam (+RM543.4 million), India (+RM470.4 million) and Indonesia (+RM444.2 million).

TRADE

Total trade in August 2016, which was valued at RM126.7 billion, posted a growth of RM8.9 billion or 7.5% from the previous month. Similarly, a growth of 3.0% or  RM3.7 billion was also recorded from a year ago. A trade surplus of RM8.5 billion was recorded and this was an expansion of RM6.6 billion (+346.0%) from the previous month. However, the trade surplus declined RM1.7 billion or 16.9% when compared with the previous year.

EXPORTS

On a m-o-m basis, exports increased 12.9% to RM67.6 billion. The main commodities which contributed to the increase were:

• Electrical and electronic (E&E) products, which accounted for 38.2% of total exports, increased RM4.1 billion (+18.8%) to RM25.8 billion;
• Palm oil and palm-based products, which contributed 9.9% to total exports, rose RM977.1 million (+17.2%) to RM6.7 billion. Exports of palm oil, the majorcommodity in this group of products grew RM899.4 million or 26.3% and this was attributed to the 29.3% rise in export volume as average unit value decreased 2.3%; and
• Timber and timber-based products, which accounted for 2.8% of total exports increased RM324.3 million or 20.5% to RM1.9 billion.

However, declines were recorded for the following products:

• Liquefied natural gas (LNG) which contributed 2.8% to total exports, dropped RM427.5 million or 18.4% to RM1.9 billion due to the decrease in export volume(-21.2%) as average unit value increased 3.4%;
• Refined petroleum products (4.7% of total exports) was lower by RM199.0 million or 5.9% to register at RM3.2 billion and this was due to the decline in export volume (-14.3%) as average unit value rose 9.8%;
• Crude petroleum (2.9% of total exports), fell RM124.8 million (-6.1%) to RM1.9 billion due to the decrease in both average unit value (-3.1%) and export volume (-3.0%); and
• Natural rubber (0.4% of total exports) decreased RM15.2 million or 5.6% to RM256.2 million due to the decrease in export volume (-4.2%) and  average unit value (-1.5%).
   

  Exports, 2012-2016

On a y-o-y basis, exports grew RM1.0 billion (+1.5%) due to:

• Palm oil and palm based-products increased RM1.1 billion or 19.7% from RM5.6 billion. Exports of palm oil rose RM717.0 million or 19.9% and this was attributed to the increase in both export volume (+9.9%) and average unit value (+9.1%);
• E&E products increased RM743.0 million (+3.0%) from RM25.1 billion;
• Crude Petroleum grew RM235.4 million or 13.9% from RM1.7 billion and this was contributed by the increase in export volume (+31.3%) as average unit value dropped 13.2%; and
• Timber and timber-based products grew RM131.0 million or 7.4% from RM1.8 billion.

However, the following products recorded a decline:

• LNG decreased RM1.2 billion (-38.9%) from RM3.1 billion due to both lower average unit value (-32.1%) and export volume (-10.1%);
• Refined Petroleum Products decreased RM434.7 million (-12.0%) from RM3.6 billion and this was due to the decrease in average unit value (-23.2%) as export volume increased 14.5%; and
• Natural rubber fell RM148.3 million or  36.7%  from RM404.5 million due to lower export volume (-31.3%) and average unit value (-7.8%).

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, exports rose RM5.5 billion (+9.0%) to RM66.5 billion.

IMPORTS

On a m-o-m basis, imports increased 1.9% from RM57.9 billion. The expansion was attributed to higher imports of intermediate goods and consumption goods.

• Intermediate Goods

These goods which represented 58.4% of total imports expanded RM2.4 billion (+7.4%) to RM34.5 billion. The increase was mainly contributed to industrial supplies, processed (+RM2.0 billion, +16.4%), fuel & lubricants, processed, others (+RM520.5 million, +57.2%) and parts & accessories of transport equipment (+RM216.3 million, +11.0%).

• Consumption Goods

Imports of consumption goods which constituted 9.0% of total imports expanded RM376.3 million (+7.7%) to RM5.3 billion. The main components contributing to the increase were food & beverages, processed, mainly for household consumption (+RM160.1 million, +13.6%), durables (+RM84.1 million, +13.7%) and non-durables (+RM72.4 million, +5.9%).
 

• Capital Goods

Imports of these goods which accounted for 13.6% of total imports declined  RM3.0 billion or 26.9% to RM8.0 billion mainly due to the decrease in capital goods (except transport equipment) (-RM3.0 billion, -29.1%).

Imports, 2012-2016

On a y-o-y basis, imports grew RM2.7 billion or 4.9% to RM59.1 billion. The increase in imports was mainly attributed to intermediate goods, capital goods and consumption goods.

• Intermediate Goods

These goods rose RM2.0 billion (+6.1%) from RM32.5 billion. The main components which contributed to the increase were industrial supplies, processed (+RM2.1 billion, +16.9%) and parts & accessories of capital goods (except transport equipment) (+RM257.1 million, +2.1%).

• Capital Goods

Imports of capital goods grew RM664.4 million (+ 9.0%) from RM7.4 billion due to the increase in both capital goods (except for transport equipment) (+RM373.6 million, +5.5%) and transport equipment, industrial (+RM290.8 million, +54.8%).

• Consumption Goods

Imports of consumption goods expanded RM496.8 million (+10.4%) from RM4.8 billion. The rise was contributed by non-durables (+RM161.6 million, +14.1%), food & beverages, primary, mainly for household consumption (+RM106.1 million, +15.8%) and durables (+RM92.8 million, +15.3%).

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, imports increased RM3.9 billion (+7.2%) to RM58.8 billion.

MARKET SHARE

The following charts show Malaysia's major trading partners for  January - August 2016.

Total Trade by Major Countries, Jan - Aug 2016, percentage share  

Exports and Imports by Major Countries, Jan - Aug 2016, percentage share

The following charts show Malaysia’s trade with ASEAN countries for January - August 2016.

Exports, Jan – Aug 2016, percentage share

Imports, Jan – Aug 2016, percentage share

Notes:

# The August 2016 data is provisional and subject to revision in later issues.

Released By:

THE OFFICE OF CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
07 OCTOBER 2016

Contact person:
Ho Mei Kei
Public Relation Officer
Corporate and User Services Division
Department of Statistics, Malaysia
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