Overview

KEY FACTS

• Both imports and exports achieved new record highs in July 2018 with values of RM77.8 billion and RM86.1 billion respectively.
• On a year-on-year (y-o-y) basis, exports increased RM7.4 billion (+9.4%) to RM86.1 billion. Re-exports in July 2018 was valued at RM18.7 billion and accounted for 21.7% of total exports. Domestic exports expanded 1.1% (+RM752.5 million) to RM67.5 billion.  
• On a y-o-y basis, imports rose RM7.2 billion (+10.3%) to RM77.8 billion.
• For the period of January- July 2018, total trade surpassed RM1 trillion and registered at RM1.1 trillion, an increase of 6.1% y-o-y. Exports grew 7.3% while imports increased 4.8%.
• On a month-on-month (m-o-m) basis, exports grew RM7.5 billion (+9.6%) from RM78.6 billion. In seasonally adjusted terms, exports registered an increase of 11.8%.
• On a m-o-m basis, imports increased 7.2% or RM5.2 billion from RM72.6 billion. In seasonally adjusted terms, imports increased 3.8%.
• On a y-o-y basis, export growth was contributed by expansion in exports to China (+RM3.5 billion), Hong Kong (+RM2.9 billion), Taiwan (+RM640.2 million), India (+RM499.9 million) and United States (+RM483.7 million).
• On a y-o-y basis, higher imports were mainly from Taiwan (+RM1.2 billion), China (+RM1.1 billion), Saudi Arabia (+RM969.8 million), Indonesia (+RM921.7 million) and India (+RM736.5 million).

TRADE

Total trade which was valued at RM164.0 billion expanded RM14.6 billion or 9.8% from a year ago. The trade surplus for July 2018 was RM8.3 billion, advancing by RM138.8 million (+1.7%) from a year ago. It also grew RM2.3 billion or 38.3% when compared to the previous month.

EXPORTS

On a y-o-y basis, exports increased 9.4% from RM78.7 billion. The main products which contributed to the increase were:

• Electrical and electronic (E&E) products (40.1% of total exports), increased RM6.6 billion (+23.6%) to RM34.5 billion;
• Crude petroleum, which contributed 4.4% to total exports increased RM1.8 billion or 90.1% to RM3.8 billion due to the increase in both average unit value (+43.6%) and export volume (+32.5%);
• Natural rubber (0.4% of total exports) grew RM10.7 million or 3.3% to   RM334.8 million due to the increase in export volume (+19.9%) although  average unit value dropped 13.8%; and
• Timber and timber-based products, which contributed 2.2% to total exports, recorded a marginal increase of RM8.2 million or 0.4% to RM1.9 billion.

However, declines were recorded for the following products:

• Liquefied natural gas (LNG), which accounted for 2.8% of total exports decreased RM1.5 billion or 38.4% to RM2.4 billion due to the decline in both export volume (-37.1%) and average unit value (-2.2%);
• Palm oil and palm oil-based products (6.4% of total exports), shrank RM862.9 million (-13.6%) to RM5.5 billion. Exports of palm oil, the major commodity in this group of products declined RM904.6 million or 23.1% due to the decrease in both export volume (-13.2%) and average unit value (-11.3%); and
• Refined petroleum products, which accounted for 6.4% of total exports, declined RM768.3 million or 12.3% to RM5.5 billion due to the decrease in export volume (-29.4%) as average unit value increased 24.2%.

On a m-o-m basis, exports grew RM7.5 billion (+9.6%) from RM78.6 billion. The main products which contributed to the increase were:

• Electrical and electronic (E&E) products expanded RM4.6 billion (+15.5%) from RM29.9 billion;
• Crude petroleum accelerated by RM1.4 billion or 60.9% from RM2.4 billion due to the growth in both export volume (+59.7%) and average unit value (+0.8%);
• Palm oil and palm oil-based products rose RM576.1 million or 11.7% from RM4.9 billion. Exports of palm oil increased RM397.1 million or 15.1% due to the increase in export volume (+15.6%) although average unit value declined 0.4%;
• Refined petroleum products grew RM347.6 million or 6.8% from RM5.1 billion due to the increase in  both average unit value (+4.4%) and  export volume (+2.3%);
• Timber and timber-based products rose RM187.8 million or 10.8% from RM1.7 billion; and
• Natural rubber recorded an increase of RM24.5 million or 7.9% from RM310.3 million due to the growth in both export volume (+7.8%) and average unit value (+0.1%).

Nevertheless, the following product decreased:

• LNG declined RM316.1 million (-11.6%) from RM2.7 billion due to the decline in export volume (-13.1%) as average unit value increased 1.8%.

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, exports grew RM9.5 billion (+11.8%) to RM89.7 billion.

Exports, 2014-2018

IMPORTS

On a y-o-y basis, imports increased 10.3% to RM77.8 billion. The growth in imports by end use was mainly attributed to consumption goods and capital goods as intermediate goods declined.

• Consumption Goods

Imports of consumption goods which constituted for 8.6% of total imports recorded an increase of RM667.2 million (+11.1%) to RM6.7 billion. The increase was mainly attributed to semi-durables (+RM265.7 million, +21.4%), durables (+RM203.8 million, +27.0%) and non-durables (+RM154.0 million, +10.3%).

• Capital Goods

Imports of capital goods, which accounted for 12.4% of total imports, rose RM427.4 million (+4.7%) to RM9.6 billion due to the growth in both transport equipment, industrial (+RM349.6 million, +32.5%) and capital goods (except transport equipment) (+RM77.8 million, +1.0%).

• Intermediate Goods

These goods which constituted 51.2% of total imports decreased RM28.3 million (-0.1%) to RM39.9 billion. The decline was attributed to parts & accessories of capital goods (except transport equipment) (-RM5.3 billion, -32.4%). However, increases were recorded in industrial supplies, processed (+RM1.8 billion, +11.4%), fuel & lubricants, primary (+RM1.7 billion, +103.6%) and fuel & lubricants, processed, others (+RM940.1 million, +144.4%).

On a m-o-m basis, imports rose RM5.2 billion or 7.2% from RM72.6 billion. The increase in imports by end use was contributed by consumption goods, intermediate goods and capital goods.

• Consumption Goods

Imports of these goods registered an increase of RM762.7 million (+12.9%) from RM5.9 billion. This expansion was due to semi-durables(+RM259.2 million, +20.7%), food & beverages, processed, mainly for household consumption (+RM205.2 million, +13.9%) and food & beverages, primary, mainly for household consumption (+RM114.4 million, +16.9%).

• Intermediate Goods

These goods increased RM467.9 million (+1.2%) from RM39.4 billion. The main components contributing to the increase were industrial supplies, processed (+RM1.6 billion, +9.7%) and fuel & lubricants, primary (+RM867.9 million, +34.3%). However, parts & accessories of capital goods (except transport equipment) recorded a decline of RM1.8 billion (-14.0%).

• Capital Goods

Imports of capital goods grew RM180.5 million (+1.9%) from RM9.4 billion  due to the increase in both transport equipment, industrial (+RM115.8 million, +8.9%) and capital goods (except transport equipment) (+RM64.7 million, +0.8%).

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, imports increased RM2.8 billion (+3.8%) to RM75.8 billion.

Imports, 2014-2018

MARKET SHARE

The following charts show Malaysia's major trading partners for January - July 2018.

  Total Trade by Major Countries, Jan – Jul 2018, percentage share

Exports and Imports by Major Countries, Jan – Jul 2018, percentage share

The following charts show Malaysia’s trade with ASEAN countries for January - July 2018.

Exports, Jan - Jul 2018, percentage share

Imports, Jan – Jul 2018, percentage share

Notes:

# The July 2018 data is provisional and subject to revision in later issues.

Released By:

DATO' SRI DR. MOHD UZIR MAHIDIN
CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
 DrUzir_Mahidin       Dr_Uzir

05 SEPTEMBER 2018

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