• Exports increased 1.1% yoy in April

• Imports jumped 4.4% yoy

• Trade surplus shrank RM2.2bn to RM10.9bn

• Total trade expanded by 2.6% in April 2019

• Increased in exports supported by higher shipments of manufactured goods

• Another month of disappointing global trade figures

• Trade momentum to stay sluggish amid lingering global uncertainties

Malaysia’s export increased by 1.1% yoy to RM85.2bn, on higher exports of electrical and electronic (E&E) goods, after registering 2 consecutive yoy declines since February 2019. This was also the highest export value ever recorded for the month of April. Domestic exports recorded an increase of 11.9% or RM7.6bn to RM71.7bn. Re-exports was valued at RM13.5bn registering a decline of 33.1% yoy and accounted for 15.8% of total exports. Imports rose by 4.4% to RM74.4bn, resulting in a trade surplus of RM10.9bn, 16.6% lower from April 2018.

On a mom basis, exports recorded a growth of 1.4% from RM84.1bn. Imports also expanded 6.7% mom or RM4.7bn from RM69.7bn. Total trade increased by 3.8% mom but trade surplus contracted by 24.5% mom. On seasonally adjusted terms, exports and imports rose by 9.5% and 11.3% respectively.

Total trade which was valued at RM159.5bn increased RM4.1bn or 2.6% yoy in April 2019. It also posted a growth of RM5.8bn or 3.8% mom.

In the first 4 months of 2019, total trade was still marginally lower by 0.4% to RM594.7bn compared to the same period of 2018. Exports amounted to RM321.3bn, a decrease of 0.2% while imports slipped by 0.7% to RM273.5bn. Trade surplus grew by 3.1% to RM47.8bn during the period.

Source: BIMB Securities Research - 3 Jun 2019