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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