Malaysia May exports up 2.5% on-year at RM84.1b
KUALA LUMPUR (July 4): Malaysian exports increased 2.5% to RM84.1 billion in May 2019 from a year earlier, on higher sales of palm oil and timber-based products, besides electrical and electronic items and natural rubber, the Statistics Department said today.
In geographical terms, the department said in a statement today that export growth was due to increase in sales to India, besides the US and the Philippines.
The department's chief statistician Datuk Seri Dr Mohd Uzir Mahidin said in the statement: “In May 2019, Malaysia’s exports increased 2.5% to RM84.1 billion year-on-year (y-o-y). Domestic exports recorded an increase of 8.8% or RM5.8 billion to RM71.6 billion. However, re-exports was valued at RM12.5 billion, registering a decline of 23.1% y-o-y and accounted for 14.8% of total exports.”
“Imports also registered an increase of 1.4% y-o-y to RM75.1 billion. Total trade, which was valued at RM159.2 billion, increased RM3.1 billion or 2.0% in May 2019. The trade surplus was RM9.1 billion and recorded an increase of RM965.6 million (+11.9%) from a year ago,” Mohd Uzir said.
According to the statement, the increase in imports by end use was mainly due to higher purchases of intermediate and consumption goods at RM2.6 billion and and RM651.7 million respectively.
"However, imports of capital goods recorded a decrease by RM576.9 million," the department said.