AlwaysFree: Malaysia Posts 36th Straight Month of Surplus, April Total Trade Falls 14.5 pct

According to New Straits Times article published on May 19, 2023, Malaysia registered 36th consecutive month of trade surplus since May 2020, with a value of RM12.85 billion in April.

Last month's total trade figure, however, contracted by 14.5 per cent to RM198 billion in tandem with softer global demand, according to the Investment, Trade and Industry Ministry today.

The performance was similar to other regional countries which recorded negative trade growth for April 2023, the ministry added.

Malaysia's exports totalled RM105.42 billion, declined by 17.4 per cent, and imports dropped 11.1 per cent to RM92.58 billion.

Compared to March 2023, trade, exports, imports and trade surplus were lower by 14.9 per cent, 18.7 per cent, 10.1 per cent and 51.9 per cent respectively.

For the period of January to April 2023, trade decreased marginally by 1.6 per cent to RM842.8 billion compared to the same period of 2022. 

Exports was down by 2.6 per cent to RM460.02 billion and imports declined by 0.3 per cent to RM382.78 billion. 

Trade surplus edged down by 12.7 per cent to RM77.24 billion.

In April, exports of manufactured goods, which constituted 86.2 per cent or RM90.89 billion of total exports, fell 15.5 per cent year-on-year (y-o-y).

This was attributed to lower exports of electrical and electronic (E&E) products, manufactures of metal and chemicals and chemical products. 

However, exports of petroleum products registered double-digit increase of 20.8 per cent, sustaining positive growth since May 2022. 

Exports of agriculture goods (6.8 per cent share) stood at RM7.21 billion, slipped by 29.2 per cent compared to April 2022 due to lower shipments of palm oil and palm oil-based agriculture products. 

Exports of mining goods (6.3 per cent share) totalled RM6.63 billion, a decrease of 28.9 per cent y-o-y on account of lower exports of crude petroleum.

For the period of January to April 2023, exports of manufactured goods weakened by 2.3 per cent to RM390 billion compared to the corresponding period last year.

This was a result of lower exports of manufactures of metal, rubber products, chemicals and chemical products as well as palm oil-based manufactured products. 

However, higher exports of petroleum products, E&E products, paper and pulp products as well as optical and scientific equipment offset the impact of the decline.

Exports of mining goods rose by 8.1 per centbto RM36.48 billion boosted by higher exports of liquefied natural gas.

Exports of agriculture goods was valued at RM30.79 billion, decreased by 17.6 per cent following lower exports of palm oil and palm oil-based agriculture products.

The ministry said trade with Asean represented 26.9 per cent or RM53.28 billion of Malaysia's total trade, declining by 12 per cent YoY in April 2023. 

Trade with China, which comprised 17.2 per cent or RM34.14 billion of Malaysia's total trade, contracted by 13.1 per cent YoY. 

Trade with the United States in April 2023, which accounted for nine per cent of Malaysia's total trade, contracted by 19.5 per cent YoY to RM17.82 billion. 

Trade with the European Union contributed 7.9 per cent to Malaysia's total trade, decreased by 15.9 per cent YoY to RM15.61 billion. 

Trade with Japan which constituted of 5.7 per cent or RM11.38 billion to Malaysia's total trade contracted by 24.7 per cent YoY, while trade with free trade agreement partners which contributed 67.8 per cent or RM134.22 billion to Malaysia's total trade edged down by 13.5 per cent YoY.

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