Trade Performance : August 2020 and January - August 2020
Double Digit Year-on-Year Growth in August Trade Surplus
In August 2020, Malaysia’s trade surplus registered a double digit growth of 19.7% to RM13.23 billion compared to August 2019, exceeding RM10 billion for the seventh time in year 2020.
Trade totalled RM145.06 billion, a decrease of 4.6% compared to August 2019. Lower trade was recorded particularly with Thailand, Bangladesh, Indonesia and Japan. Meanwhile, higher trade was registered with the United States (US), China and Saudi Arabia. Exports amounted to RM79.14 billion, decreased by 2.9% while imports slipped by 6.5% to RM65.92 billion.
On a month-on-month (m-o-m) basis, total trade, exports and imports contracted by 9.3%, 14.5% and 2.2%, respectively. Trade surplus dipped by 47.5%.
For the first 8 months of 2020, trade surplus rose by 2.9% to RM102.98 billion compared to the same period of 2019. Total trade was valued at RM1.138 trillion, a decline of 6.5% mainly on lower trade with Thailand, Singapore, India and Japan. Higher trade however was registered with the Republic of Korea (ROK), the US, Bahrain and China. Exports during the period totalled RM620.64 billion, reduced by 5.8% while imports totalled RM517.66 billion, contracted by 7.3%.
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