Trade Performance 2020

Trade Performance : May 2020 and January - May 2020

Highest Monthly Trade Surplus for May since 2008

In May 2020, Malaysia recorded a trade surplus above RM10 billion for the fourth time in 2020, registering a double-digit growth of 14.7% year-on-year (y-o-y) to RM10.41 billion. This was the highest monthly trade surplus for the month of May since May 2008.

Trade in May 2020 amounted to RM114.96 billion, a decrease of 27.8% compared to May 2019. Lower trade was recorded particularly with Singapore, Thailand, India, China, Japan and Indonesia. The performance was similar in other regional countries, which recorded lower trade growth for May 2020 due to COVID-19 pandemic that continued to slow economic activities globally. Exports totalled RM62.69 billion, contracted by 25.5% while imports decreased by 30.4% to RM52.27 billion.

Compared to April 2020, trade, exports and imports slipped by 13.7%, 3.2% and 23.6%, respectively.

Malaysia’s trade during the first five months of 2020 declined by 8.7% to RM688.57 billion compared to the corresponding period of 2019. Lower trade was recorded with Thailand, Singapore, India, China and Hong Kong SAR. Meanwhile, higher trade was registered with the Republic of Korea (ROK) and Indonesia. Exports during the period registered a decrease of 9.7% to RM366.16 billion and imports contracted by 7.5% to RM322.41 billion. Trade surplus was valued at RM43.75 billion, declined by 23% compared to the same period of 2019.

 

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Trade Performance : May 2020 and January - May 2020

 

Trade Performance : April 2020 and January - April 2020

Malaysia's Trade Impacted by COVID-19 Pandemic

In April 2020, Malaysia’s trade amounted to RM133.34 billion, a decrease of 16.4% compared to April 2019, due to COVID-19 pandemic which caused major disruptions to global supply chain. Lower trade was recorded particularly with Singapore, Thailand, India, the United States (US), Japan, Viet Nam and Saudi Arabia.

Exports was valued at RM64.92 billion, contracted by 23.8% while imports decreased by 8% to RM68.42 billion. Trade balance recorded a deficit of RM3.5 billion in April 2020, after 269 consecutive months of surplus on account of a higher contraction in exports compared to imports.

Compared to March 2020, trade and exports slipped by 9.9% and 19%, respectively while imports increased by 0.9%.

Malaysia’s trade during the first four months of 2020 dropped by 3.5% to RM573.75 billion compared to the corresponding period of 2019. Lower trade was recorded with Thailand, Singapore, Hong Kong, Germany, India and Viet Nam. Meanwhile, higher trade was registered with the Republic of Korea (ROK), Indonesia and the US. Exports during the period registered a decrease of 5.5% to RM303.61 billion and imports declined marginally by 1.2% to RM270.14 billion. Trade surplus was valued at RM33.47 billion, declined by 29.9% compared to the same period of 2019.

Commenting on the April trade performance, Senior Minister and Minister of International Trade & Industry YB Dato' Seri Mohamed Azmin Ali said that the declines in both exports and imports are expected given that most countries around the world were under some form of lockdown to contain the spread of COVID-19. This has caused major disruptions to the manufacturing activities and movement of goods globally. Nevertheless, exports of some products such as iron and steel, rubber gloves and refined palm oil recorded increases.

"Malaysia's exports are expected to improve in the coming months as the government allowed more industries to resume operations and at full operating capacity since 4 May 2020. Similarly, companies in other countries are also ramping up their business operations. This will boost trade activities between Malaysia and other countries", he added.

 

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Trade Performance : April 2020 and January - April 2020

 

Trade Performance : February 2020 and January - February 2020

February 2020 - the Fastest Export Growth y-o-y since November 2018

Malaysia’s trade in February 2020 registered a double-digit growth of 11.6% to RM136.28 billion compared to February 2019. Higher trade was recorded with the United States (US), Singapore, the Republic of Korea (ROK), China and Taiwan. Exports picked up sharply by 11.8% to RM74.45 billion, compared to a 1.5% decline in January 2020. This was the strongest year-on-year (y-o-y) growth in 16 months. Imports expanded by 11.3% to RM61.83 billion.

Trade surplus in February 2020 was valued at RM12.62 billion, grew by 14.1% compared to February 2019. This was the largest trade surplus recorded for the month of February thus far and the 268th consecutive month of surplus.

Compared to January 2020, trade, exports and imports posted a decline of 12.7%, 11.5% and 14.2%, respectively. Trade surplus increased by 4.9%.

Malaysia’s trade over the past 2 months grew by 3.9% to RM292.48 billion. Higher trade was recorded with the US, Singapore, the ROK, Indonesia and India. Exports during the period registered an increase of 4.3% to RM158.57 billion and imports rose by 3.5% to RM133.91 billion.

Malaysia’s trade surplus in January to February 2020 was valued at RM24.65 billion, expanded by 9.2% compared to RM22.57 billion for the same period of 2019.

 

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Trade Performance : February 2020 and January - February 2020

 

Trade Performance : March 2020 and January - March 2020

Highest Q1 Export Value Thus Far

Malaysia’s trade during the first quarter (Q1) of 2020 grew by 1.2% to RM440.38 billion compared to Q1 2019. Higher trade was recorded with Indonesia, the United States (US), the Republic of Korea (ROK), Saudi Arabia and Singapore. Exports during the period registered an increase of 1.1% to RM238.68 billion, the highest export value recorded for Q1 thus far. Imports rose by 1.3% to RM201.69 billion.

Trade surplus in Q1 2020 was valued at RM36.99 billion, rose by 0.1% compared to the same period of 2019. This was the largest trade surplus recorded for Q1 since 2011.

Compared to the fourth quarter (Q4) of 2019, total trade, exports and imports contracted by 8.1%, 7.4% and 8.9%, respectively. Trade surplus expanded by 1.5%.

In March 2020, Malaysia’s trade was valued at RM147.9 billion, a decrease of 3.8% compared to March 2019. Lower trade was recorded with Thailand, Hong Kong SAR, Viet Nam, Germany and Singapore. Nevertheless, higher trade was registered with Indonesia, Saudi Arabia, the ROK and Japan. Exports contracted by 4.7% to RM80.12 billion and imports declined by 2.7% to RM67.78 billion.

 

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Trade Performance : March 2020 and January - March 2020

 

Trade Performance : January 2020

Trade Surplus at RM12 billion, Highest January Trade Surplus in 9 Years

 

Malaysia recorded a trade surplus of RM12 billion in January 2020, 4.2% higher compared to January 2019.  This was the highest monthly trade surplus for the month of January since January 2011 and the 267th consecutive month of surplus.

Exports totalled RM84.08 billion, a marginal decrease of 1.5% compared to January 2019. Imports slipped by 2.4% to RM72.08 billion.

Total trade amounted to RM156.17 billion, a contraction of 2% from January 2019. Lower trade was seen with China, Thailand, Hong Kong SAR, Viet Nam and Taiwan, while higher trade was recorded with the United States (US), Australia, Republic of Korea (ROK) and Indonesia.

On a month-on-month (m-o-m) basis, total trade, exports, imports and trade surplus decreased by 2.6%, 2.7%, 2.4% and 4%, respectively.

 

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Trade Performance : January 2020

 

Updated by Trade Statistics Unit

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