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KUALA LUMPUR: Malaysia's exports for May 2018 rose 3.4 percent year-over-year to 82.1 billion yuan, supported by increased exports of liquefied crude oil (LNG) and oil and gas exports. Electricity and electronics (E & E). ] However, growth contrasted sharply with the Bloomberg survey on an increase of 6.4%. Bloomberg forecasts 0.2% growth in imports
According to the Statistics Department on Thursday, exports in May 2018, which was valued at RMB82.1bil, is the fifth consecutive month in which export growth outpaced imports.
Re-exports were evaluated at RM16.3bil, registering an increase of 21.4% in y-o-y and accounted for 19.8% of total exports. Domestic exports decreased by 0.3 percent, falling from RM 178 million to RMB 65.9 billion
Imports in May showed a slight increase of 0.1 percent year on year at RM74bil.
On a monthly basis (m / m), exports registered a decrease of 2.5% or RM2.1bil compared to RM84.2bil. In seasonally adjusted terms, exports also declined 3.3%.
The Department of Statistics stated that total trade, valued at RM156.1bil, increased 2.8 RMB, or 1.8% over the previous year. It also shows a growth of RM631.8mil or 0.4% compared to the previous month.
The trade surplus was RM 8.1 billion, an increase of RM2.6 billion (+ 47.1%) over the previous year. However, compared to the previous month, it decreased RM4.9bil or 37.7%.
Commenting on exports in May, the department said that LNG, which accounted for 3.8% of total exports, rose RM1.2bil or 61.0% to RM3 due to the increase in export volume (+ 68.7%), the average unit value decreased by 4.6%.
Crude oil, which accounted for 3.8% of total exports, rose by RM 975.3 million or 45.8% to RM3.1bil. in average unit value (+ 22.2%) and in export volume (+ 19.3%), while refined petroleum products rose RM649.4mil or 10.0% to RM7.1bil.
E & E products (35.5% of total exports) increased RM608. However, products based on palm oil and palm oil (7.0% of total exports) decreased RMB (-15.4%) to RMB 5.8 billion. Exports of palm oil, the main commodity of this product group, decreased by RM1bil or 24.2% due to lower export volume (-14.5%) and average unit value (-11.4%).
Imports of intermediate goods, which accounted for 54.1% of total imports, decreased from RM2.3 billion (-5.3%) to RM40.1bil. The decrease is mainly attributable to parts and accessories of capital goods (except transportation equipment) (-1.8 billion rupees, -11.3%), industrial supplies, processed products (-1, $ 3 billion, -7.8%) and other processed fuels and lubricants (-RM1.1bil, -41.2%). However, imports of consumer products, which accounted for 8.1% of total imports, registered a decrease of RM 678.1 million (-10.2%) to RM0bil. This is mainly due to semi-durable goods (-322.9mil, -21.0%), food and beverages, primary, mainly for household consumption (-112.1million rm, -12.3%) and non-durable (-RM100,5mil, –
Imports of capital goods, which accounted for 13.3% of total imports, decreased by RM 65.5 million (-0.7%) to RM 9.8 billion due to decrease in capital goods (except transport equipment) 3bil, -15.3%). However, imports of transport equipment increased by RM1.3 billion (105.6%).
On a -0% basis, imports increased by RM 2.8 billion, or 3.9%, compared to RM 71.2 billion.
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