KUALA LUMPUR: Malaysia’s trade surplus in the first nine months of 2019 widened by 15.3 percent to RM100.86 billion, compared with RM87.47 billion registered in the same period last year.
This was the largest January-September trade surplus recorded during the last 10 years, the International Trade and Industry Ministry (MITI) said in a statement yesterday.
In September 2019, the trade surplus was valued at RM8.34 billion, a decline of 46.5 percent year-on-year.
On a monthly basis, total trade, exports, imports and trade surplus declined 3.1 percent, 4.5 percent, 1.6 percent and 23.5 percent, respectively.
Total trade in the third quarter of 2019 (3Q19) contracted 3.7 percent to RM460.53 billion compared to Q3 2018.
Total exports reached RM247.02 billion, 1.9 percent lower from the same period last year while imports contracted 5.8 percent to RM213.51 billion.
The trade surplus in 3Q19 recorded double-digit growth of 33.3 percent to RM33.51 billion from RM25.14 billion registered in the same quarter of last year.
Exports of manufactured goods in September 2019 contracted 5.8 percent to RM66.34 billion or 85.4 percent of total exports, mainly due to lower exports of electrical and electronic (E&E) products, petroleum products, chemicals and chemical products as well as textiles, apparels and footwear.
However, increases were registered in exports of transport equipment, optical and scientific equipment as well as machinery, equipment and parts.
Exports of mining goods (7.3 percent share) declined 15.2 percent to RM5.69 billion due to lower exports of crude petroleum following lower volume and Average Unit Value (AUV).
Exports of agriculture goods (6.7 percent share) down 8.3 percent to RM5.17 billion due to lower exports of palm oil and palm oil-based agriculture products, especially palm oil which declined 9.3 percent to RM3.05 billion following lower volume and AUV.
Trade with Asean in September 2019, which made up 26.2 percent of total trade decreased by 8.1 percent y-o-y to RM38.54 billion.
Exports to Asean decreased by 8.6 percent to RM21.62 billion, owing to lower exports of E&E products.
Trade with China rebounded 3.8 percent y-o-y in September 2019 after declining 7.9 percent in August, while trade with the European Union (EU) decreased by 3.3 percent y-o-y to RM13.47 billion.
Meanwhile, trade with the United States in September 2019 rose 3.8 percent y-o-y to RM13.79 billion, accounting for 9.4 percent of Malaysia’s total trade. – Bernama
