• Exports surged higher by 63.0% yoy; Imports rose by 24.4% yoy in April
• Trade surplus expanded to RM20.5bn
• Exports remained above RM100bn bolstered by all sector activities
• Imports continued double-digit growth for the third consecutive month
• Exports to major trading partners recorded double digit growth in April
• Global exports surge at sharpest pace in April
• Export growth momentum remains intact

Malaysia’s exports surged higher by 63.0% yoy in April from RM64.8bn in April 2020 to RM105.6bn. Exports sustained double-digit growth for the third straight month and recorded the fastest growth since February 1998 and sharper than March print of 31.0% yoy. Domestic export stood at RM85.0bn contributed 80.5% to the total exports, soared by 84.0% yoy (Mar: +38.5%; Feb: +10.5%; Jan: +6.3%). While, the re exports which was valued at RM20.6bn, went up by 11.0% yoy (Mar: +3.7%; Feb: +65.0%; Jan: +7.5%). Imports also rose strongly by 24.4% to RM85.1bn in April compared to 19.2% growth in the previous month. Total trade rose by 43.2% to RM190.8bn, the largest growth registered since 1998. Trade balance rebounded to record a surplus of RM20.5bn compared to a deficit of RM3.6bn from the same period a year ago.

On a month-on-month basis, exports, imports and total trade posted an increase of 0.6%, 5.4%, and 2.7% respectively. Meanwhile, trade balance narrowed 15.4% during the period.

In the four months to April 2021, exports increased 27.8% yoy to RM387.8bn. Re exports valued at RM72.2bn and grew 16.6% yoy and accounted for 18.6% of total exports. Domestic exports rose 30.6% to RM315.6bn from a year ago. Imports also registered an increase of 14.3% yoy to RM308.7bn. Malaysia’s trade from January to April 2021 grew by 21.4% to RM696.4bn. Trade surplus was valued at RM79.1bn, rose by 137.3% compared to the same period of 2020.

Source: BIMB Securities Research - 31 May 2021