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Malaysia’s trade performance breaks record in April
KUALA LUMPUR: Malaysia’s recorded strong trade performance in April as exports and imports once again broke the record to reach RM105.6bil and RM85.1bil, the Statistics Department said.
It announced on Friday trade surplus was at RM20.5bil as it continues its recovery from the impact of Covid-19 pandemic.
“Malaysia’s exports continued to be vibrant, soaring by 63% year-on-year to RM105.6bil in April 2021 compared to an increase of 31.1% in March 2021, ” said Chief Statistician, Datuk Seri Dr Mohd Uzir Mahidin.
“The expansion was driven by both domestic exports and re-exports. Domestic exports stood at RM85bil – which contributed 80.5% to the total exports — rose significantly by 84%. Re-exports which were valued at RM20.6bil, grew by 11%.
“Imports in April 2021 amounted to RM85.1bil, an increase of 24.4% year-on-year.
“Malaysia’s total trade in April 2021 surged 43.2%, reaching RM190.8bil as compared to April 2020, ” he said.
Commenting on the exports, Mohd Uzir said there were higher exports to the United States (+RM6.8bil), Singapore (+RM5.5bil), the European Union (+RM4.1bil), China (+RM3.4bil) and India (+RM2.7bil).
There were higher imports mainly from China (+RM6bil), Singapore (+RM4bil), Japan (+RM2.3bil), Indonesia (+RM1.8bil) and Thailand (+RM1.6bil).
He said the expansion in exports was also driven by electrical and electronic products or E&E (+RM11.2bil); rubber products (+RM5.1bil); petroleum products (+RM4.6bil); manufacture of metal (+RM3bil); machinery, equipment and parts (+RM2.8bil).
Commodity exports which saw strong increase were palm oil and palm oil-based agriculture products (+RM2.5bil).
As for imports, there was an increase in E&E (+RM5.8bil); petroleum products (+RM4.3bil), chemical and chemical products (+RM2bil); crude petroleum (+RM1.4bil); manufacture of metal (+RM1.3bil) and iron and steel products (+RM1bi).
Mohd Uzir said there was a significant increase in the imports of intermediate goods (54.6% of the total imports). There was a significant increase by RM18.2bil or 64.4 per cent.
Consumption goods (8.9% of total imports) rose by 29.9% to RM7.6bil from RM5.8bil.
However, there was a decline in imports of capital goods which amounted to RM9.3bil, down by RM5.7bil or 38.2% as compared to April 2020, and comprised 10.9% of total imports.
Source: https://www.thestar.com.my/business/business-news/2021/05/28/malaysias-trade-performance-breaks-record-in-april