Malaysia’s April exports surge 20.6% to RM73.79bil

Workers sewing in a clothing factory in Bozhou, east China's Anhui province. The final HSBC/Markit manufacturing Purchasing Managers' Index (PMI) slipped to 50.5 in December from 50.8 in November - AFP Photo.

KUALA LUMPUR: Malaysia’s exports rose 20.6% to RM73.79bil in April 2017 from the RM61.34bil a year ago, which were within economists’ forecast of 20.6% growth, according to data released by the Statistics Department.

The department said in Monday imports rose 24.7% to RM65.21bil. However, the grow was below the 31.3% rise by economists’ forecast. 

Total trade in April 2017 was valued at RM139.2bil, an expansion of RM25.5bil or 22.5% from a year ago. However, it posted a decrease of RM20.7bil or 12.9% when compared to the previous month.

A trade surplus of RM8.8bil was recorded in April 2017, decreased RM302.8mil (-3.3%) from the RM9.1bil registered a year ago. When compared to the previous month, it also declined RM3.4bil or 62.1%.

The Statistics Department said Aprils 2017’s exports were mainly driven by an increase in electrical and electronic (E&E) products grew increased RM4.8bil (+22.2%) to RM26.2bil.

Palm oil and palm oil-based products (8.2% of total exports), recorded an increase of RM1.2bil (+24.1%) to RM6.1bil. Exports of palm oil, the major commodity in this group of products rose RM766.5mil or 26.1% due to the increase in both average unit value (+18.9%) and export volume (+6.1%).

Liquefied natural gas (LNG) (4.4% of total exports), increased RM1.1bil or 50.2% to RM3.3bil due to the increase in both average unit value (+43.0%) and export volume (+5.0%), crude petroleum, which contributed 3.2% to total exports, increased RM935.5mil or 65.7% to RM2.4bil due to the increase in both average unit value (+49.0%) and export volume (+11.2%).

However, refined petroleum products, which accounted for 5.1% of total exports, shrank RM702.8mil or 15.8% to RM3.8bil due to the decrease in export volume (-24.8%) as average unit value increased 12.0%.

Total imports in April 2017 grew 24.7% from RM52.3bil  on a year-on-year  basis. This expansion was attributed to higher imports of intermediate goods, capital goods and consumption goods.

These goods which constituted 58.9% of total imports increased RM8.7bil to RM38.4bil. The growth was mainly attributed to parts & accessories of capital goods (except transport equipment) (+RM3.9bil, +33.0%), fuel & lubricants, primary (+RM2bil, +228.1%), and industrial supplies, processed (+RM1.9bil, +16.0%).

Imports of these goods which represented 12.3% of total imports grew RM1bil or 14.8% to RM8bil due to the increase in capital goods (except transport equipment) (+RM1.4bil, +22.6%).

Imports of consumption goods which accounted for 8.7% of total imports recorded an increase of RM58.5mil to RM5.7bil. The increase was mainly attributed to food & beverages, processed, mainly for household consumption, food & beverages, primary, mainly for household consumption and durables. However, non-durables decreased RM79.3mil or 5.7%.

Malaysia’s total trade for January-April 2014 was valued at RM569.68bil, an increase of 23.8% compared with the same period last year. 

Exports were higher by 21.2% to RM298.65bil while imports rose by 26.9% to RM271.03bil. Trade surplus was valued at RM27.625bil.
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Did you find this article insightful?


Next In Business News

Govt disburses RM1b loans under Penjana SME financing
S.Korea stocks close at record high on vaccine hopes, Biden transition
Top Glove ramps up production at plants outside Klang
Land & General posts stronger 2Q financial results
CCK 3Q net profit rises 20% to RM9.25mil
Hong Kong exchange plans smart contract solution for Stock Connect problems
Malakoff 3Q net profit falls 46% to RM50.8m
Top Glove, Budget worries weigh on sentiment
Foreign demand for Malaysian bonds strong in October, RAM says
Elon Musk overtakes Bill Gates to grab world’s second-richest ranking

Stories You'll Enjoy