Trade Performance : July 2020 and January - July 2020
The Highest Export Value Ever Recorded for the Month of July
Malaysia’s exports in July 2020 increased by 3.1% to RM92.53 billion compared to July 2019, the highest export value ever recorded for the month of July. This was also the second highest export value ever registered, after RM97.12 billion posted in October 2018. Imports declined by 8.7% to RM67.38 billion. Trade surplus expanded by 57.5% to RM25.15 billion compared to RM15.97 billion in July 2019 and was the highest monthly trade surplus ever recorded.
Total trade in July 2020 decreased by 2.2% year-on-year (y-o-y) to RM159.92 billion as lower trade was recorded with Australia, Thailand, Republic of Korea (ROK), Indonesia and Japan. Meanwhile, higher trade was registered with the United States (US), India, Bahrain, China, Taiwan, Singapore and Hong Kong SAR.
On a month-on-month (m-o-m) basis, total trade, exports and imports recorded growth of 10.4%, 11.7% and 8.7%, respectively while trade surplus grew by 20.6%.
For the first 7 months of 2020, total trade was valued at RM993.22 billion, contracted by 6.8% compared to the same period of 2019. Lower trade was recorded mainly with Thailand, Singapore, India and Japan. Meanwhile, higher trade was registered with the ROK, the US and Bahrain. Exports during the period amounted to RM541.47 billion, declined by 6.2% while imports totalled RM451.75 billion, contracted by 7.4%. Trade surplus expanded by 0.8% to RM89.72 billion.
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