M'sia's April Exports Surge 20.6%, Imports Spike 24.7%

The International Trade and Industry Ministry (MITI) said imports expanded by 24.7 per cent, while the trade surplus was RM8.75 billion for the month.

However, it said on a month-on-month basis, total trade, exports and imports dropped by 12.9 per cent, 10.5 per cent and 15.6 per cent, respectively due to the high base effect in March.

For April, higher exports of liquefied natural gas (LNG) and crude petroleum, due to higher Average Unit Value (AUV) and volume, led the 51.8 per cent rise in exports of mining goods in April.

Exports of manufactured goods rose by 17.3 per cent to RM60.48 billion, which accounted for an 81.8 per cent share of Malaysia’s global shipments.

Higher exports of electrical and electronic (E&E) products, chemicals and chemical products, iron and steel products as well as rubber products led to stronger export performance.

In the first four months of 2017, exports of manufactured goods recorded the highest value increase of RM38.48 billion, or 18.9 per cent to RM241.95 billion.

“Higher exports were recorded for all manufactured subsectors except for jewellery, beverages and tobacco, as well as non-metallic mineral products.”

In terms of markets, MITI said trade with most partners expanded with a positive double digit growth momentum.

Exports to China recorded a sturdy growth of 50.6 per cent through higher exports of petroleum products, E&E products, LNG as well as rubber products.

“Exports to China continued to record positive year-on-year growth since Oct 2016,” it said, adding that imports from China increased by 15.3 per cent.

Exports to the European Union (EU) also recorded double-digit growth at 26.5 per cent, and accounted for a 10.1 per cent share of total exports.

Likewise, exports to the US rose by 13.6 per cent on account of higher exports of E&E products, rubber products as well as machinery, equipment and parts.