KUALA LUMPUR (Oct 4): Malaysia's August exports registered a 0.8% year-on-year (y-o-y) decrease to RM81.4 billion, while imports fell 12.5%.

The Department of Statistics Malaysia stated that the decline in exports was due to lower exports to Hong Kong (-RM911.5 million), Singapore (-RM844.9 million), Australia (-RM818.1 million), Taiwan (-RM690.2 million) and Thailand (-RM382.1 million).

In the External Trade Statistics for August 2019, which was published today, the department's chief statistician Datuk Seri Mohd Uzir Mahidin said that in August 2019, imports also registered a decrease of 12.5% y-o-y to RM70.4 billion.

The lower imports were mainly from China (-RM1.9 billion), the European Union (-RM1.6 billion), Singapore (-RM1.6 billion), Taiwan (-RM1.4 billion) and Saudi Arabia (-RM942.1 million).

The re-exports was valued at RM13.4 billion, registering a decline of 0.3% y-o-y and accounting for 16.5% of total exports, while domestic exports also declined 0.8% or RM581.7 million to RM67.9 billion.

The total trade, which was valued at RM151.8 billion, decreased RM10.7 billion or 6.6% as compared to August 2018.

According to the report, the main products which contributed to the decrease in exports were electrical and electronic (E&E) products, crude petroleum and liquefied natural gas.

However, increases were recorded for palm oil and palm oil-based products, refined petroleum products, timber and timber-based products and natural rubber.

Imports by end use recorded a decrease for all main categories — intermediate goods (-RM6.3 billion), capital goods (-RM3.6 billion) and consumption goods (-RM909.8 million).