KUALA LUMPUR: Malaysia’s exports rose 0.2% to RM66.6bil in March, exceeding economists’ survey of a 1% decline, as gains were underpinned by exports of palm oil products and electrical and electronics (E&E) products.
The Ministry of International Trade and Industry (MITI) said on Friday exports of palm oil and palm based-products increased RM325.6mil or 6.7% from RM4.8bil.
“Exports of palm oil rose RM256.2mil or 8.9% and this was contributed by the increase in both export volume (+6.2%) and average unit value (+2.6%),” it said.
As for E&E products, Malaysia recorded a 0.4% of RM103.6mil from RM24bil. Refined petroleum products increased by RM80.5mil (+2.3%) from RM3.4bil due to the increase in export volume (+27.6%) as average unit value decreased 19.8%.
“On a month-on-month basis, exports increased RM9.9bil (+17.4%) from RM56.7bil. In seasonally adjusted terms, exports rose 0.9%.
As for imports, there was a 5.5% decline or by RM3.3bil to RM55.4bil due to a decline in intermediate goods and also capital goods thought there was an increase in consumption goods. Economists expected a 0.3% decline in imports.
MITI said imports of intermediate goods fell RM2.9bil (-8.3%) from RM34.5bil. The main components which contributed to the decrease were fuel & lubricants, processed, others (-RM1.8bil, -70.4%), industrial supplies, processed (-RM1.5bil, -11.4%) and fuel & lubricants, primary (-RM756.6mil, -36.2%).
Imports of capital goods fell RM2.1bil or 22.2% from RM9.5bil due to the decrease in both capital goods (except for transport equipment) (-RM1.6bil, -18.4%) and transport equipment, industrial (-RM551.5mil, -53.9%).
As for consumption goods, imports rose 21.9% or RM959.7mil from RM4.4bil, mainly due to semidurables (+RM305.1mil, +47.8%), food & beverages, primary, mainly for household consumption (+RM288.5mil, +49.5%) and food & beverages, processed, mainly for household consumption (+RM241.0mil, +19.5%).
On a month-on-month basis, imports also grew RM6bil (+12.2%) from RM49.4bil. In seasonally adjusted terms, imports fell 7.0%.
On a month-on-month basis seasonally adjusted terms, imports declined RM4.0bil (-7.0%) to RM53.6bil.
