Malaysia’s trade in July 2020 amounted RM159.9 billion, declined by 2.2 per cent compared to the same month last year. On a month-on-month (m-o-m) basis, total trade recorded a
double-digit growth of 10.4 per cent. Exports continued to record positive growth in July 2020, expanding by 3.1 per cent year-on-year (y-o-y) to RM92.5 billion. This was the highest value since November 2018. In contrast, imports was valued at RM67.4 billion, declined by
8.7 per cent y-o-y. On m-o-m basis, exports and imports registered increases of 11.7 per cent and 8.7 per cent respectively.
Trade surplus in July 2020 surged by 57.5 per cent to RM25.1 billion, the highest trade surplus ever recorded. It also increased by 20.6 per cent from RM20.9 billion when compared to the previous month.
- Exports in July 2020 was valued at RM92.5 billion, an increase of 3.1 per cent y-o-y, outpacing imports growth for three consecutive months. On a m-o-m basis, it posted a double-digit growth of 11.7 per cent from RM82.8 billion.
- For the first seven months of 2020, exports declined by 6.2 per cent to RM541.5 billion compared to the same period in 2019.
- Higher exports in July 2020 was recorded to the United States, China, Singapore, the United Kingdom and Republic of Korea. However, exports to the United Arab Emirates and Thailand decreased.
- Exports of manufactured goods which constituted 87.5 per cent of total exports, increased by 4.7 per cent to RM80.9 billion compared to the same month a year ago. Exports of agriculture goods which represented 7.1 per cent of Malaysia’s exports expanded by 30.4 per cent to RM6.6 billion y-o-y. Meanwhile, exports of mining goods continued to decline by 30.2 per cent to RM4.7 billion, and accounting for 5.1 per cent of Malaysia’s exports.
- Malaysia’s imports in July 2020 stood at RM67.4 billion, declined by 8.7 per cent or RM6.4 billion compared to July 2019. This was the 5th consecutive month of decrease since March 2020. However, compared to the previous month, imports increased 8.7 per cent from RM62.0 billion.
- In January to July 2020, Malaysia’s imports contracted by 7.4 per cent to RM451.8 billion compared to the same period in 2019.
- Lower imports in July 2020 were recorded from Republic of Korea, China, the European Union, Australia, Thailand and Indonesia. However, imports increased from India and the United Arab Emirates.
- Imports of manufactured, mining and agriculture goods declined by 5.6 per cent, 39.1 per cent and 3.2 per cent respectively compared to July 2019.
- Imports by end use registered a decline for intermediate goods and capital goods. Meanwhile, imports of consumption goods increased. Imports of intermediate goods dropped by 17.3 per cent to RM32.2 billion. Capital goods declined by 19.7 per cent to RM6.7 billion and consumption goods increased marginally by 0.1 per cent to RM6.4 billion.
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1. The July 2020 data is provisional and subject to revision in later issues.
2. This report can be accessed through the web portal of the Department of Statistics, Malaysia (https://www.dosm.gov.my) under section: Latest Release.
DATO' SRI DR. MOHD UZIR MAHIDIN
CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
28 AUGUST 2020
Mohd Yusrizal Ab Razak
Public Relation Officer
Strategic Communication and International Division
Department of Statistics, Malaysia
Tel : +603-8885 7942
Fax : +603-8888 9248
E-mail : yusrizal.razak[at]dosm.gov.my