Malaysia’s September exports grow 8.8% to breach $16B mark

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ComponentesExports by Malaysia in September 2015 recorded a year-on-year growth of 8.8%, reaching MYR70.16 billion (US$16.09 billion), the highest monthly export value recorded in the first nine months of the year.

Robust demand from major markets in the Association of Southeast Asian Nations (ASEAN), European Union (EU), China, and U.S. supported growth, according to the Ministry of International Trade and Industry (MITI).

Major exports for the month were electrical and electronics products valued at MYR26.09 billion, with a share of 37.2% of total exports, an increase of 13.6% from a year ago.

Imports rose 9.6% to MYR60.47 billion. Total trade rose 9.1% to MYR130.63 billion, while trade surplus expanded by 4.1% to MYR9.69 billion compared with September 2014, making it the 215th consecutive month of trade surplus since November 1997, MITI added.

On a sectoral basis, exports of manufactured goods grew 15.5% year-on-year for the month under review, driven by higher exports of electrical and electronics products.

Exports of agricultural goods declined by 2.8% to MYR6.38 billion due to lower exports of palm oil and palm-based products, while exports of mining goods decreased by 21.7% to MYR6.6 billion, affected by the decline in exports of liquefied natural gas and crude petroleum.

As for the third quarter of 2015, total trade expanded by MYR15.39 billion to MYR377.54 billion. Both exports and imports increased, registering growth of 5.5% to MYR199.88 billion and 2.9% to MYR177.66 billion, respectively, compared to the same period last year. A trade surplus of MYR22.22 billion was recorded in Q3 2015, an increase of 32.5%.

For the January-September 2015 period, exports were valued at MYR568.21 billion compared with MYR569.48 billion in the same period in 2014, while imports totaled RM504.3 billion compared with MYR507.98 billion previously. The trade surplus for the first nine months of 2015 increased to MYR63.91 billion, a 3.9% growth.

Regarding export markets, shipments to ASEAN in September 2015 rose 11.5% to MYR19.8 billion and accounted for 28.2% share of total exports.

Trade with ASEAN from January to September accounted for 27.3% of Malaysia’s total trade, with value of MYR292.86 billion compared to MYR290.77 billion recorded in January-September 2014.

Exports to China registered growth year-on-year for the seventh consecutive month since March 2015. In September 2015, exports to the mainland rose 13.1% or MYR1.05 billion to RM9.06 billion.

Malaysia’s trade with China for the first nine months of 2015 registered a growth of 10.6% to MYR168.38 billion. Exports to China rose 9.7% to MYR74.23 billion while imports increased 11.3% to MYR94.15 billion.

Exports to the EU registered year-on-year growth of 23.7% or MYR1.44 billion to MYR7.51 billion in September 2015. This was the highest monthly export value recorded for the first nine months of the year.

During the first nine months of 2015, trade with the EU increased by 2.4% to MYR108.53 billion compared with the same period of 2014. Exports to the EU was valued at MYR57.19 billion, a growth of 6.7%

Continuous demand from the electronics industry saw exports to the U.S. rise 16.5% to MYR6.61 billion. Imports increased by 25.2% to MYR4.9 billion, while trade with the U.S. remained robust with a growth of 20%, recording a value of MYR11.5 billion.

Exports to the U.S. in the first nine months of 2015 expanded by 12.9% to MYR53.25 billion. Imports grew by 2.9% to MYR40.29 billion. This resulted in a higher total trade of MYR93.54 billion, an increase of 8.4% compared with the same period of 2014.

In September 2015, exports to Japan declined by 8.2% to MYR6.08 billion. Imports amounted to MYR4.79 billion, increased by 6.7%, while trade with Japan fell 2.2% to MYR10.88 billion.

In January-September 2015, trade with Japan contracted by 8.5% to MYR94.34 billion, with export and import values of MYR54.26 billion and MYR40.09 billion, compared to MYR61.66 billion and MYR41.42 billion, respectively, in the first nine months of 2014.

Meanwhile, in September 2015, total trade with free trade agreement (FTA) partners was MYR81.93 billion, higher by 9.8%, with exports of MYR43.15 billion and imports totaling MYR38.79 billion. Total trade with FTA partners was valued at MYR677.61 billion and accounted for 63.2% of Malaysia’s trade during the first nine months of 2015.

Photo: Kae