PETALING JAYA: Malaysia’s exports continued to record a decrease of 5.5% to RM80.8 billion year-on-year (yoy) in November 2019, according to a release from the Department of Statistics.
Chief statistician Datuk Seri Mohd Uzir Mahidin said re-exports was valued at RM13 billion, registering a decline of 18.4% yoy, and accounted for 16.1% of total exports.
“Domestic exports also recorded a decrease of 2.6% or RM1.8 billion to RM67.8 billion.
“Total trade stood at RM155.1 billion, declining 4.6% or RM7.5 billion compared to November 2018. The trade surplus which was valued at RM6.5 billion, shrank RM2 billion (-23.1%) from a year ago,” he said.
The Department of Statistics also reported that exports fell due to the decrease in exports to Singapore (-RM1.6 billion), Hong Kong (-RM1.3 billion), Japan (-RM959.4 million), Thailand (-RM699.1 million) and the Republic of Korea (-RM633.5 million).
The main products which contributed to the decline in exports in November 2019 were electrical & electronic products (-RM3.6 billion), liquefied natural gas (-RM1.8 billion), refined petroleum products (-RM1.2 billion), crude petroleum (-RM669.0 million), palm oil and palm oil-based products (-RM144.2 million) and natural rubber (-RM272.5 million).
Meanwhile, imports amounted to RM74.3 billion, a contraction of 3.6% yoy.
“Imports by end use recorded a decrease for capital goods (-RM443.2 million). Nevertheless, imports for consumption goods and intermediate goods registered an increase of RM125.9 million and RM727.1 million respectively,” said Mohd Uzir.
source https://www.thesundaily.my/business/november-exports-decline-55-y-o-y-to-rm808b-XK1851066
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