Total trade up 11.7 pct to RM155.42 bln in April 2018

KUALA LUMPUR: Malaysia’s total trade in April 2018 rebounded by 11.7 per cent year-on-year (y-o-y) to RM155.42 billion from a decline of 3.5 per cent in March, said the Ministry of International Trade and Industry (MITI).

In a statement, MITI said exports for the month registered a robust growth of 14 per cent y-o-y to RM84.24 billion - the second highest monthly exports value after the previous months’ RM84.47 billion.

“The expansion was supported mainly by higher exports to Hong Kong, Asean, China, the European Union (EU), Taiwan, Bangladesh and South Korea.

“Imports expanded by 9.1 per cent y-o-y to RM71.17 billion, while the trade surplus stood at RM13.07 billion, the 246 th consecutive month of a trade surplus since November 1997,” it added.

The year-to date trade surplus surged by 68.7 per cent to RM46.44 billion compared with the corresponding period of 2017.

Total trade for the first four months of this year amounted to RM597.3 billion, up 4.9 per cent over the same period last year, while exports increased 7.8 per cent to RM321.87 billion and imports rose 1.6 per cent to RM275.43 billion.

April’s export of manufactured goods increased 16.8 per cent y-o-y to RM70.54 billion, accounting for 83.7 per cent of Malaysia’s total, mainly due to higher exports of electrical and electronic (E&E) products.

The export of mining goods grew by 4.2 per cent y-o-y to RM6.76 billion, constituting eight per cent of Malaysia’s total, mainly driven by higher exports of crude petroleum.

Exports of agriculture goods, which accounted for 7.1 per cent of the total exports, contracted by 4.8 per cent y-o-y to RM6.01 billion mainly due to lower exports of natural rubber.

On major markets, MITI said trade with Asean rose by 11 per cent y-o-y to RM41.39 billion, accounting for 26.6 per cent of Malaysia’s total trade.

“Exports to Asean amounted to RM23.89 billion, an increase of 13.6 per cent y-o-y, led by an increase in the export of transport equipment, petroleum products and E&E products.

“Imports also expanded by 7.7 per cent y-o-y to RM17.49 billion,” it said.

Overall, imports of intermediate goods, accounted for 47.5 per cent of total imports, decreasing by 11.9 per cent y-o-y following lower imports of parts and accessories of capital goods (except transport equipment) and primarily, electrical machinery, equipment and parts.