PETALING JAYA: Exports for October 2019 slipped 6.7% year-on-year (y-o-y) to RM90.6 billion, due to a high base in October last year which was the highest value ever recorded, according to a statement from the Department of Statistics.
Exports also fell due to the decline in exports to Australia , China, Japan and Thailand.
The main products which contributed to the decline in exports in October 2019 were crude petroleum, refined petroleum products, electrical & electronic products, liquefied natural gas, palm oil and palm oil-based products, timber and timber-based products and natural rubber.
Chief statistician Datuk Seri Mohd Uzir Mahidin said total trade stood at RM163.9 billion, declining 7.6% or RM13.5 billion compared to October 2018.
“Re-exports was valued at RM18.5 billion registering a decline of 10.2% y-o-y and accounted for 20.4% of total exports. Domestic exports also registered a decline of 5.8% or RM4.4 billion to RM72.1 billion. Imports amounted to RM73.3 billion, a contraction of 8.7% y-o-y,” he said.
The lower imports were mainly from Taiwan, Singapore, the European Union, China, Saudi Arabia and the Republic of Korea.
Meanwhile, imports by end use recorded a decrease for all main categories which are intermediate goods followed by capital goods and consumption goods.
source https://www.thesundaily.my/business/oct-exports-fall-67-to-rm906b-HY1717283
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