Malaysia’s Aug exports decline 0.3%, trade surplus at nearly 4-year low

Malaysia’s total exports fell marginally by RM215.2 million or 0.3% to RM81.8 billion in August, the second time exports recorded a decrease in 2018 after February due to the high base effect, according to the Department of Statistics.

Trade surplus also recorded the lowest value since November 2014 at RM1.6 billion on the back of a double-digit growth of 11.2% or RM8.1 billion in imports to RM80.2 billion in August.

Total trade stood at RM162 billion, RM7.9 billion or 5.1% higher than the same month a year ago.

The main products which contributed to the decline in exports were palm oil and palm oil-based products (-RM1.5 billion); liquefied natural gas (-RM918.3 million); timber and timber-based products (-RM49.0 million); and natural rubber (-RM39.5 million).

However, increases were recorded for crude petroleum (+RM1.3 billion); electrical & electronic products (+RM985.5 million); and refined petroleum products (+RM232.2 million).