Malaysia’s Aug exports decline 0.3%, trade surplus at nearly 4-year low
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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).
Questions & Answers
Q.What specific product categories contributed most significantly to the fall in Malaysian exports in August?
What specific product categories contributed most significantly to the fall in Malaysian exports in August?
Palm oil and palm oil-based products saw the largest decline, falling by RM1.5 billion. Liquefied natural gas also contributed notably to the decrease, with a drop of RM918.3 million.
Q.Which product categories showed growth in exports during August?
Which product categories showed growth in exports during August?
Crude petroleum recorded an increase of RM1.3 billion. Electrical and electronic products also grew by RM985.5 million, while refined petroleum products saw an increase of RM232.2 million.
Q.When was the last time Malaysia's trade surplus was as low as it was in August?
When was the last time Malaysia's trade surplus was as low as it was in August?
The trade surplus in August was RM1.6 billion, which is the lowest value recorded since November 2014. This was due to a double-digit growth in imports.
Q.Why did exports decline in August despite overall trade increasing?
Why did exports decline in August despite overall trade increasing?
Exports declined primarily due to a high base effect, following a similar decrease in February 2018. The overall trade increased because imports grew significantly by 11.2% in August.
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