Overview

KEY FACTS :

• On a year-on-year (y-o-y) basis, exports continued to register a strong growth with an increase of RM14.6 billion (+21.5%) to RM82.2 billion. Value of re-exports recorded RM11.2 billion and accounted for 13.6% of total exports. Domestic exports grew by RM12.9 billion (+22.1%) to RM71.1 billion.  
• On a y-o-y basis, imports was also in a similar trend increasing by RM13.3 billion (+22.6%) to RM72.4 billion.          
• On a month-on-month (m-o-m) basis, exports rose RM3.6 billion (+4.6%) from RM78.6 billion. In seasonally adjusted terms, exports declined 1.7%.
• On a m-o-m basis, imports also grew RM1.8 billion (+2.5%) from RM70.6 billion. In seasonally adjusted terms, imports increased 5.2%.
• On a y-o-y basis, exports increased due to the higher exports to Singapore (+RM2.1 billion, +20.5%), China (+RM2.0 billion, +21.2%), European Union (+RM1.5 billion, +21.6%) and Taiwan (+RM1.0 billion, +64.8%).
• On a y-o-y basis, higher imports were mainly from Singapore (+RM3.7 billion, +63.5%), European Union (+RM1.6 billion, +31.2%), China (+RM1.5 billion, +12.3%) and Taiwan (+RM1.0 billion, +27.2%).

TRADE

Total trade was valued at RM154.6 billion, an expansion of RM27.9 billion or 22.0% from a year ago. It also posted an increase of RM5.4 billion or 3.6% when compared to the previous month. A trade surplus of RM9.9 billion was recorded in August 2017, an increase of RM1.2 billion (+14.4%) from RM8.6 billion registered a year ago. When compared to the previous month, it also posted a growth of RM1.8 billion or 22.8%.

EXPORTS

On a y-o-y basis, exports expanded 21.5% from RM67.7 billion. The main products which contributed to the increase were:

• Electrical and electronic (E&E) products (37.8% of total exports), increased RM5.2 billion (+20.1%) to RM31.0 billion;
• Liquefied natural gas (LNG) (4.8% of total exports), increased RM2.0 billion or 101.8% to RM4.0 billion due to the strong increase in both export volume (+57.4%) and average unit value (+28.2%);
• Refined petroleum products, which accounted for 5.2% of total exports, rose RM1.1 billion or 35.5% to RM4.3 billion due to the increase in both average unit value (+19.6%) and export volume (+13.3%);
• Natural rubber, which contributed 0.5% to total exports, increased RM120.3 million or 47.0% to RM376.5 million due to the increase in both average unit value (+23.8%) and export volume(+18.7%);
• Timber and timber-based products, which accounted for 2.5% of total exports, increased RM117.0 million or 6.1% to RM2.0 billion; and
• Crude petroleum, which contributed 2.3% to total exports, increased marginally by RM0.8 million or 0.04% to RM1.9 billion as the 11.4% increase in average unit value was somewhat offset by the lower export volume (-10.2%).

However, the following product recorded a decrease:

• Palm oil and palm oil-based products (8.0% of total exports), recorded a decrease of RM101.2 million (-1.5%) to RM6.6 billion. Exports of palm oil, the major commodity in this group of products declined RM525.0 million or 12.1% due to the 21.2% decrease in export volume although average unit value increased 11.5%.

On a m-o-m basis, exports grew RM3.6 billion (+4.6%) from RM78.6 billion. The main products which registered increases were as follows:

• E&E products expanded RM3.1 billion or 11.2% from RM27.9 billion;
• Palm oil and palm oil-based products rose RM190.1 million or 3.0% from RM6.4 billion mainly due to the increase of RM166.1 million (+10.4%) in palm oil-based oleochemical;
• LNG grew RM178.3 million or 4.7% from RM3.8 billion due to the increase in both export volume (+4.5%) and average unit value (+0.2%);
• Timber and timber-based products increased RM121.7 million or 6.3% from RM1.9 billion; and
• Natural rubber increased RM52.4 million or 16.2% from RM324.1 million due to the increase in export volume (+17.2%) as average unit value decreased 0.9%.

However, decreases were recorded for the following products:

• Refined petroleum products declined RM2.0 billion or 31.2% from RM6.3 billion due to the decrease in both export volume (-30.8%) and average unit value (-0.6%); and
• Crude petroleum shrank RM81.5 million or 4.1% from RM2.0 billion due to the decrease in both export volume (-3.8%) and average unit value (-0.3%).

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, exports decreased RM1.4 billion (-1.7%) to RM80.2 billion.

Exports, 2013-2017

IMPORTS

On a y-o-y basis, imports grew RM13.3 billion (+22.6%) from RM59.0 billion. This expansion was attributed to higher imports of intermediate goods, capital goods and consumption goods.

• Intermediate Goods

These goods which constituted 59.7% of total imports expanded  RM8.8 billion (+25.5%) to RM43.2 billion. The growth was mainly attributed to parts & accessories of capital goods (except transport equipment)  (+RM6.0 billion, +48.1%) and industrial supplies, processed (+RM1.3 billion, +9.2%).

• Capital Goods

Imports of these goods which represented 12.6% of total imports grew RM1.0 billion or 12.7% to RM9.1 billion due to the increase in capital goods (except transport equipment) (+RM1.4 billion, +18.7%). However, imports of transport equipment, industrial decreased RM330.4 million (-40.2%).

• Consumption Goods

Imports of consumption goods which accounted for 8.6% of total imports recorded an increase of RM943.3 million (+17.8%) to RM6.2 billion. The increase was mainly attributed to food & beverages, processed, mainly for household consumption (+RM353.6 million, +26.4%), non-durables (+RM256.8 million, +19.6%) and semi-durables (+RM217.5 million, +19.8%).

On a m-o-m basis, imports also rose RM1.8 billion or 2.5% from RM70.6 billion. The increase in imports was attributed to intermediate goods and consumption goods.

• Intermediate Goods

Imports of intermediate goods expanded RM3.3 billion (+8.3%) from RM39.9 billion due to the increase in parts & accessories of capital goods (except transport equipment)(+RM2.0 billion, +12.5%) and fuel & lubricants, processed, others (+RM1.1 billion, +172.9%).

• Consumption Goods

These goods increased RM242.8 million (+4.1%) from RM6.0 billion. The main components which registered significant increases were food & beverages, processed, mainly for household consumption (+RM104.4 million, +6.6%),   non-durables (+RM77.0 million, +5.2%) and semi-durables (+RM72.7 million, +5.8%).

• Capital Goods

Imports of capital goods fell RM93.0 million (-1.0%) from RM9.2 billion. The decrease was attributed to transport equipment, industrial (-RM583.7 million, -54.3%). However, imports of capital goods (except transport equipment) increased RM490.7 million or 6.1%.

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, imports increased RM3.5 billion (+5.2%) to RM71.4 billion.

Imports, 2013-2017

MARKET SHARE

The following charts show Malaysia's major trading partners for January- August 2017

              Total Trade by Major Countries, Jan- Aug 2017, percentage share

Exports and Imports by Major Countries, Jan- Aug 2017, percentage share

The following charts show Malaysia’s trade with ASEAN countries for January-August 2017

Exports, Jan- Aug 2017, percentage share

Imports, Jan- Aug 2017, percentage share

Notes:

# The August 2017 data is provisional and subject to revision in later issues.

Released By:

THE OFFICE OF CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
06 OCTOBER 2017

Contact person:
Ho Mei Kei
Public Relation Officer
Corporate and User Services Division
Department of Statistics, Malaysia
Tel : +603-8885 7942
Fax : +603-8888 9248
Email : mkho[at]stats.gov.my

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