KUALA LUMPUR: Malaysia’s exports rose 15% to RM78.3bil in September 2017 from a year ago, boosted by electrical and electronic (E&E) products.

However, the increase was below economists’ expectations of a growth of 20%.

The Statistics Department in a statement on Friday said on a year-on-year (y-o-y) basis, exports maintained its double digit growth of 14.8%, or RM10.1bil to RM78.3bil while re-exports in September 2017 was valued at RM13.6bil and accounted for 17.3% of total exports. Domestic exports was higher by RM6.7bil to register at RM64.7bil.

On a y-o-y basis, imports also expanded 15.2% or RM9.2bil to RM69.7bil. 

Compared to August 2017, exports decreased RM4bil from RM82.3bil. In seasonally adjusted terms, exports dropped 6.2%.

On a y-o-y basis, export growth was supported by expansion in exports to China (+RM2.4bil, +27.1%), Hong Kong (+RM1.3bil, +41.0%), the European Union (+RM1.1bil, +16.2%) and Indonesia (+RM969.1mil, +42.9%).

Total trade in September 2017 grew 15%, or RM19.3bil to RM147.9bil from a year ago. However, it posted a decrease of RM6.7bil or 4.3% when compared to the previous month. 

September 2017’s trade surplus was RM8.6bil and recorded an increase of RM890.5mil from a year ago. However, compared to the previous month, it declined 14% or RM1.5bil.

The department said September 2017’s exports were mainly driven by an increase in E&E products, which rose RM4.6bil to RM30.9bil.

Refined petroleum products, which accounted for 6.0% of total exports, grew RM547.1mil or 13.2% to RM4.7bil due to the 26.9% increase in average unit value as export volume decreased 10.8%.

Liquefied natural gas (LNG), which contributed 3.9% to total exports, rose RM230.1mil or 8.2% to RM3bil due to the increase in both average unit value and export volume.

Natural rubber, which contributed 0.4% to total exports, increased RM10.4mil or 3.4% to RM312.6mil due to the increase in average unit value as export volume dropped 18.0%  and timber and timber-based products, rose marginally by RM1.4mil to RM1.8bil.

On the other hand, palm oil and palm oil-based products (8% of total exports), recorded a decrease of RM105.3mil to RM6.3boil mainly due to the decrease in palm oil-based oleochemical of RM114.1mil.

The department said imports increased 15.2% from RM60.5bil on a y-o-y basis. The growth in imports was contributed by intermediate goods, capital goods and consumption goods. 

The Edge weekly ~ Catching the next big wave - Semiconductor [Goreng Goreng]