Overview

KEY FACTS :

• On a year-on-year (y-o-y) basis, exports strengthened further its uptrend growth momentum and outpaced import growth with an increase of RM19.5 billion (+32.5%) to RM79.4 billion. The share of re-exports was 16.9% with a value of RM13.4 billion. Performance of domestic exports was also strong and expanded RM14.5 billion (+28.1%) to RM66.0 billion.
• On a y-o-y basis, imports increased strongly by RM17.2 billion (+30.4%) to RM73.9 billion.          
• On a month-on-month (m-o-m) basis, exports rose RM5.5 billion (+7.5%) from RM73.9 billion. In seasonally adjusted terms, exports increased 9.0%.
• On a m-o-m basis, imports grew RM8.7 billion (+13.3%) from RM65.2 billion. In seasonally adjusted terms, imports rose 10.4%.
• On a y-o-y basis, exports increased due to the higher exports to Singapore (+RM3.8 billion), China (+RM3.6 billion), European Union (+RM1.8 billion), Australia (+RM1.2 billion) and the United States (+RM1.0 billion).
• On a y-o-y basis, higher imports were mainly from China (+RM2.5 billion), the United States (+RM2.3 billion), Singapore (+RM1.7 billion), India (+RM1.6 billion) and Taiwan (+RM1.1 billion).

TRADE

Total trade in May 2017 which was valued at RM153.3 billion grew RM36.7 billion or 31.5% from a year ago. When compared to the previous month it posted an expansion of RM14.2 billion or 10.2%. A trade surplus of RM5.5 billion was recorded in May 2017, an increase of RM2.2 billion (+67.3%) from RM3.3 billion registered a year ago. However, it decreased RM3.2 billion or 36.5%, m-o-m basis. 

EXPORTS

On a y-o-y basis, exports expanded 32.5% from RM59.9 billion. All the main products recorded increases:

• Electrical and electronic (E&E) products (36.0% of total exports), increased RM6.8 billion (+31.3%) to RM28.6 billion;
• Refined petroleum products, which accounted for 8.2% of total exports, expanded RM2.8 billion or 75.6% to RM6.5 billion due to the strong increase in both export volume (+33.7%) and average unit value (+31.4%);
• Palm oil and palm oil-based products (8.6% of total exports), recorded an increase of RM1.4 billion (+26.8%) to RM6.8 billion. Exports of palm oil, the major commodity in this group of products rose RM839.0 million or 25.0% due to the increase in both export volume (+14.1%) and average unit value (+9.5%);
• Crude petroleum, which contributed 2.7% to total exports, rose RM771.0 million or 56.8% to RM2.1 billion due to the increase in both average unit value (+31.5%) and export volume (+19.2%);
• Timber and timber-based products, which accounted for 2.5% of total exports, grew RM229.7 million or 12.8% to RM2.0 billion;
• Natural rubber (0.5% of total exports) rose RM131.9 million or 46.8% to RM413.8 million due to the strong increase in average unit value (+49.8%) as export volume decreased 2.0%; and
• Liquefied natural gas (LNG), which contributed 2.4% to total exports, grew RM71.0 million or 3.8% to RM1.9 billion due to the increase in average unit value (+63.1%) as export volume dropped 36.4%.

On a m-o-m basis, exports increased RM5.5 billion (+7.5%) from RM73.9 billion. The main products which contributed to the increase were: 

• Refined petroleum products increased RM2.7 billion or 72.6% from RM3.8 billion due to the increase in export volume (+73.0%) as average unit value dropped 0.2%;
• E&E products grew RM2.3 billion or 8.7% from RM26.3 billion;
• Palm oil and palm oil-based products increased RM746.5 million or 12.3% from RM6.1 billion. Exports of palm oil rose RM493.2 million (+13.3%) due to the increase in export volume (+23.5%) as average unit value fell 8.3%; and
• Timber and timber-based products grew RM190.7 million or 10.4% from RM1.8 billion.

However the following products recorded decreases:

• LNG declined RM1.3 billion or 40.2% from RM3.3 billion due to the decrease in both export volume (-36.4%) and average unit value (-6.0%);
• Crude petroleum shrank RM229.7 million or 9.7% from RM2.4 billion due to the decrease in both export volume (-5.1%) and average unit value (-4.9%); and
• Natural rubber decreased RM136.7 million or  24.8%  from  RM550.5 million  due  to  the  decline  in  both  export  volume  (-15.1%) and average unit value (-11.4%). 

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, exports rose RM6.8 billion (+9.0%) to RM82.6 billion.

Exports, 2013-2017

IMPORTS

On a y-o-y basis, imports grew 30.4% from RM56.7 billion. This expansion was attributed to higher imports of intermediate goods, capital goods and consumption goods.

•  Intermediate Goods

Intermediate goods which constituted 57.2% of total imports increasedRM10.7 billion (+33.8%) to RM42.3 billion. The growth was mainly attributed to parts & accessories of capital goods (except transport equipment) (+RM3.9 billion, +32.9%), industrial supplies, processed (+RM3.2 billion, +24.9%), fuel & lubricants, processed, others (+RM1.5 billion, +124.1%), and fuel & lubricants, primary (+RM751.3 million, +72.6%).

• Capital Goods

Imports of capital goods which represented 13.4% of total imports grew RM614.1 million or 6.6% to RM9.9 billion due to the increase in capital goods (except transport equipment) (+RM1.5 billion, +21.3%). However, transport equipment, industrial fell RM910.9 million or 43.3%.

•  Consumption Goods

Imports of consumption goods which accounted for 9.0% of total imports recorded an increase of RM510.6 million (+8.3%) to RM6.7 billion. The increase was mainly attributed to food & beverages, processed, mainly for household consumption (+RM309.3 million, +21.9%) and non-durables (+RM88.3 million, +5.9%).

On a m-o-m basis, imports rose RM8.7 billion or 13.3% from RM65.2 billion. The increase in imports was attributed to intermediate goods, capital goods and consumption goods. 

• Intermediate Goods

Intermediate goods expanded by RM3.9 billion (+10.2%) from RM38.4 billion. The main components which contributed to the increase were industrial supplies, processed (+RM2.5 billion, +18.7%) and fuel & lubricants, processed, others (+RM1.7 billion, +171.7%). However, fuel & lubricants, primary recorded a decrease of RM1.1 billion or 37.5%.

• Capital Goods

Imports of capital goods rose RM1.9 billion or 23.6% from RM8.0 billion due to the increase in capital goods (except transport equipment) (+RM1.1 billion, +14.8%) and transport equipment, industrial (+RM769.1 million, +181.2%).

• Consumption Goods

Imports of consumption goods grew RM998.4 million (+17.6%) from RM5.7 billion. The increase was attributed to semi-durables (+RM293.5 million, +23.6%), non-durables (+RM260.0 million, +19.8%) and food & beverages, processed, mainly for household consumption (+RM250.7 million, +17.1%).

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, imports increased RM6.9 billion (+10.4%) to RM73.6 billion.

Imports, 2013-2017

MARKET SHARE

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

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

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

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

 Exports, Jan- May 2017, percentage share

Imports, Jan- May 2017, percentage share

Notes:

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

Released By:

THE OFFICE OF CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
07 JULY 2017

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Ho Mei Kei
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Corporate and User Services Division
Department of Statistics, Malaysia
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