Hi guys,

A brief look at latest trade figures

 By NST Business - December 28, 2021 @ 12:06pm

KUALA LUMPUR: Malaysia's trade continues its stellar performance and maintains upward trajectory in November, said International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali.

The country's trade surpassed RM2 trillion mark for the first time during the January-November 2021, expanding 24.6 per cent to RM2.01 trillion compared to the same period last year.

Exports increased 25.7 per cent to RM1.12 trillion, while imports rose 23.3 per cent to RM894.42 billion and trade surplus edged up 36.2 per cent to RM221.53 billion.

Trade, exports, imports and trade surplus registered the highest value for the period, Azmin said.

Last month alone, the country's total trade expanded 34.9 per cent to RM205.5 billion compared to November 2020, breaching RM200 billion mark for the second time in a row.

This was the 10th consecutive month of double-digit growth since February 2021, Azmin said in a statement today.

Malaysia's exports rose 32.4 per cent to RM112.2 billion, the 15th consecutive month of year-on-year (y-o-y) expansion since September 2020.

Imports was higher by 38 per cent to RM93.3 billion and trade surplus increased 10.5 per cent to RM18.9 billion.

Trade and imports recorded highest monthly value.

Azmin said last month's export expansion was underpinned by strong exports of electrical and electronic (E&E) products, petroleum products as well as palm oil and palm oil-based agriculture products. Exports to major markets notably Asean, China, the United States (US), the European Union and Japan recorded double-digit growth.

Exports to Asean and the US registered an all-time high monthly value.

On a month-on-month (m-o-m) basis, trade and imports grew by 1.5 per cent and 5.9 per cent, while exports and trade surplus contracted by 1.9 per cent and 28.1 per cent respectively.

In November 2021, all major sectors recorded double-digit y-o-y growth on the back of higher exports of all products except for rubber products and crude petroleum.

Exports of manufactured goods which accounted for 85 per cent of total exports grew 28.2 per cent y-o-y to RM95.41 billion.

E&E products, petroleum products, manufactures of metal, chemicals and chemical products, palm oil-based manufactured products, machinery, equipment and parts as well as iron and steel products each posted over RM1 billion increase in exports.

Exports of palm oil-based manufactured products registered the highest monthly value.

Exports of agriculture goods (8.9 per cent share) surged 76.8 per cent y-o-y to RM9.99 billion, the highest monthly value which was boosted by a record high exports of palm oil and palm oil-based agriculture products.

This was the ninth consecutive month of double-digit growth since March 2021.

Exports of mining goods (5.7 per cent share) edged up 45.2 per cent y-o-y to RM6.35 billion, the eighth straight month of double-digit growth since April 2021.

This was contributed by strong exports of liquefied natural gas.

In November 2021, trade with Asean accounted for 27.6 per cent to Malaysia's total trade, having expanded 45.5 per cent y-o-y to RM56.63 billion.

Trade with China, which absorbed 18.5 per cent of Malaysia's total trade, climbed 26.1 per cent y-o-y to RM37.92 billion, the 12th consecutive month of double-digit growth.

Trade with the US in November 2021, which represented 9.6 per cent of Malaysia's total trade, grew 27.9 per cent y-o-y to RM19.72 billion.

Trade with the EU which comprised 8.1 per cent of Malaysia's total trade in November 2021, edged up 43.1 per cent y-o-y to RM16.66 billion, registering the highest monthly value and the 10th consecutive month of double-digit growth.

Last month, the total trade with Japan made up 6.4 per cent of Malaysia's total trade, having grown 22.5 per cent y-o-y to RM13.16 billion.

Calvin comments:

Very high Canola oil & soybean oil prices lifted up Cpo prices solidly through October to December 2021 at record Rm5,000 per ton

Now shown up by export statistics

See

Trade and imports recorded highest monthly value.

Azmin said last month's export expansion was underpinned by strong exports of electrical and electronic (E&E) products, petroleum products as well as palm oil and palm oil-based agriculture products.

Exports of palm oil-based manufactured products registered the highest monthly value.

Exports of agriculture goods (8.9 per cent share) surged 76.8 per cent y-o-y to RM9.99 billion, the highest monthly value which was boosted by a record high exports of palm oil and palm oil-based agriculture products.

Since we know from here the Exceptional Results of Palm oil Exports the upcoming results of all Palm oil counters by Feb 2022 (reporting for Oct to Dec 2021 quarter) will BE THE BEST EVER!

While Palm oil exports are up Rubber gloves are down

See

In November 2021, all major sectors recorded double-digit y-o-y growth on the back of higher exports of all products except for rubber products and crude petroleum.

All sectors up "except for rubber products and crude petroleum

Why export of rubber (gloves) down? Two reasons: i) No more selling premium above ASP. Instead it is selling at discount to ASP.  ii) Rubber gloves export now replaced by China that is why inspite of Covid 19 delta & omicron mutations sale of rubber gloves still down is due to China taking over the US & other markets

Best regards

Calvin Tan

Please buy or sell after doing your own diligence or consult your remisier/fund manager