Overview

KEY FACTS

• On a year-on-year (y-o-y) basis, exports decreased RM4.4 billion (-6.7%) to RM60.5 billion.
• On a y-o-y basis, imports declined RM4.2 billion (-7.2%) to RM54.9 billion.
• On a month-on-month (m-o-m) basis, exports grew RM72.5 million (+0.1%) from RM60.4 billion.  In seasonally adjusted terms, exports rose 1.1%.
• On a m-o-m basis, imports increased RM1.4 billion (+2.7%) from RM53.5 billion. In seasonally adjusted terms, imports expanded by 1.5%.
• On a y-o-y basis, exports decreased due to lower exports to Japan (-RM2.0 billion), Australia (-RM1.1 billion), Taiwan (-RM527.6 million), Indonesia (-RM475.5 million) and The United States of America (-RM269.2 million).                   
• On a y-o-y basis, the decrease in imports were mainly from European Union (-RM674.5 million), Singapore (-RM672.1 million), United Arab Emirates (-RM659.5 million), The United States of America (-RM641.7 million) and Australia (-RM585.9 million).

TRADE

Total trade in May 2015, which was valued at RM115.4 billion, decreased RM8.6 billion or 6.9% from a year ago. However, it posted a growth of 1.3% or RM1.5 billion from the previous month. A trade surplus of RM5.5 billion was recorded in May 2015, a decline of 2.3% from RM5.6 billion registered a year ago. It also fell 19.7% from RM6.9 billion when compared with the previous month.

EXPORTS

On a y-o-y basis, exports decreased 6.7% from RM64.8 billion. The main commodities which contributed to the decline were:

• Liquefied natural gas (LNG), which contributed 4.4% to total exports, dropped 47.9% or RM2.4 billion to RM2.6 billion as a result of both lower average unit value (-47.2%) and export volume (-1.5%);
• Refined petroleum products, which accounted for 6.3% of total exports, fell RM1.5 billion or 28.3% to RM3.8 billion due to the decrease in average unit value (-27.2%) and export volume (-1.4%);
• Crude petroleum (3.8% of total exports), fell RM645.0 million (-22.1%) to RM2.3 billion mainly due to the decline in average unit value (-37.4%) although export volume increased 24.5%;
• Palm oil and palm-based products, which contributed 8.8% to total exports, declined RM418.0 million (-7.3%) to RM5.3 billion. Exports of palm oil, the major commodity in this group of products fell 3.6% or RM129.4 million due to the decrease in average unit value (-17.9%) although export volume increased 17.4%;
• Natural rubber (0.4% of total exports), declined RM162.4 million (-42.4%) to RM220.7 million due to the decrease in both export volume (-31.9%) and average unit value (-15.4%);
• Electrical and electronics (E&E) products, which accounted 34.9% of total exports, decreased RM126.1 million (-0.6%) to RM21.1 billion; and
• Timber and timber-based products, which contributed 2.9% of total exports, dropped RM81.8 million or 4.5% to RM1.7 billion.
   

Exports, 2011-2015

On a m-o-m basis, exports grew RM72.5 million (+0.1%) due to:

• Refined petroleum products, rose RM1.1 billion (+40.1%) from RM2.7 billion due to the increase in export volume (+47.5%) although average unit value decreased 5.0%;
• Palm oil and palm based-products increased RM729.2 million or 15.9% from RM4.6 billion. Exports of palm oil rose 24.7% or RM688.9 million due to the increase in export volume (+30.6%) although average unit value decreased 4.6%;
• Crude petroleum increased 18.7% or RM359.1 million from RM1.9 billion due to the increase in both export volume (+16.1%) and average unit value (+2.3%); and
• E&E products increased RM47.0 million (+0.2%) from RM21.0 billion.

However, declines were recorded for the following products:

• LNG, decreased RM557.4 million (-17.4%) from RM3.2 billion due to the decline in average unit value (-24.3%) although export volume increased 9.1%;
• Timber and timber-based products, fell RM94.3 million or 5.2% from RM1.8 billion; and
• Natural rubber, dropped RM48.1 million (-17.9%) from RM268.9 million due to the lower export volume (-17.4%) and average unit value (-0.6%).

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, exports rose RM676.7 million (+1.1%) to RM61.5 billion.

IMPORTS

On a y-o-y basis, imports decreased 7.2% from RM59.2 billion. The decrease in imports was mainly attributed to intermediate goods and capital goods.

• Intermediate Goods

These goods which constituted 57.6% of total imports dropped RM2.9 billion (-8.4%) to RM31.7 billion. The decrease were mainly attributed to industrial supplies, processed (-RM1.5 billion, -11.1%) and fuel & lubricants, primary (-RM1.2 billion, -41.7%).

• Capital Goods

Imports of these goods which represented 14.5% of total imports declined RM415.7 million or 5.0% to RM8.0 billion due to the decrease in capital goods (except transport equipment) (-RM284.4 million, -4.1%) and transport equipment, industrial (-RM131.4 million, -9.7%).

• Consumption Goods

Imports of consumption goods which accounted for 9.8% of total imports expanded RM1.2 billion (+27.2%) to RM5.4 billion. The main components contributing to the increase were semi-durables (+RM747.5 million, +143.4%), food & beverages, processed, mainly for household consumption (+RM212.3 million, +17.9%) and non-durables (+RM118.8 million, +10.9%).

Imports, 2011-2015

On a m-o-m basis, imports rose RM1.4 billion or 2.7% to RM54.9 billion. The rise in imports was attributed to capital goods and consumption goods.

• Capital Goods

Imports of capital goods grew RM959.4 million or 13.7% from RM7.0 billion due to the increase in transport equipment, industrial (+RM832.6 million, +212.7%) and capital goods (except for transport equipment) (+RM126.8 million, +1.9%).

• Consumption Goods

Imports of consumption goods rose RM551.9 million (+11.4%) from RM4.9 billion. The main components contributing to the increase were semi-durables (+RM282.4 million, +28.6%) and food & beverages, processed, mainly for household consumption (+RM92.2 million, +7.0%).

• Intermediate Goods

These goods fell RM197.5 million (-0.6%) from RM31.9 billion. The main components which contributed to the decrease were food & beverages, primary, mainly for industries (-RM229.0 million, -36.6%) and parts and accessories of capital goods (except transport equipment) (-RM131.7 million, -1.1%).  

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, imports increased RM797.1 million (+1.5%) to RM53.8 billion.

MARKET SHARE

The following charts show Malaysia's major trading partners for January - May 2015.

Total Trade by Major Countries, Jan - May 2015, percentage share  

Exports and Imports by Major Countries, Jan - May 2015, percentage share

The following charts show Malaysia’s trade with ASEAN countries for January - May 2015.

Exports, Jan – May 2015, percentage share

Imports, Jan – May 2015, percentage share

Released By:

THE OFFICE OF CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
03 JULY 2015

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