KUALA LUMPUR: The Department of Statistics, Malaysia says exports slipped 6.8 percent year-on-year (y-o-y) to RM77.7 billion in September while imports registered an increase of 2.4 percent y-o-y to RM69.4 billion.
In its External Trade Statistics, September 2019 released yesterday, the department said the main products that contributed to the decline in exports were electrical & electronics products (-RM4.1 billion), crude petroleum (-RM1.2 billion), refined petroleum products (-RM805.1 million), and palm oil and palm oil-based products (-RM366.9 million).
However, exports of timber and timber-based products increased by RM101.5 million.
Commenting on the report, chief statistician Malaysia Datuk Seri Dr Mohd Uzir Mahidin said re-exports were valued at RM12.7 billion, registering a decline of 17.6 percent y-o-y and accounting for 16.3 percent of total exports.
“Domestic exports also declined 2.9 percent (-RM2.0 billion) to RM65.0 billion,” he said in a statement yesterday.
Mohd Uzir added that total trade, valued at RM147.1 billion, decreased by RM4 billion or 2.7 percent compared to September 2018. Meanwhile, he said the increase in imports by end-use was mainly attributed to intermediate goods (+RM4 billion) followed by consumption goods (+RM777.0 million) and capital goods (+RM531.7 million).
The department also reported that in third quarter 2019, exports fell 1.9 percent y-o-y to RM247 billion with re-exports valued at RM44 billion, decreasing 9.2 percent y-o-y and accounting for 17.8 percent of total exports.
Domestic exports also decreased marginally by 0.2 percent to RM203 billion from a year ago, while imports registered a decrease of 5.8 percent y-o-y to RM213.5 billion. – Bernama
