Malaysian April export trade numbers saw growth by 20.6% to RM73.79 billion in comparison to RM61.34 billion recorded a year ago. According to data released by the Statistics Department, the imports sector grew to RM65.21 billion or 24.7%, which was below the 31.3% forecast by economists, reported The Star Online.
Compared to the scenerio a year ago, total trade numbers in April this year was valued at RM139.2 billion, growing by 22.5% or RM25.5 billion from a year ago. The trade surplus decreased by RM 302.8 million of the RM8.8 billion recorded in April this year. The figures dwindled from the RM9.1 billion registered a year ago, while in comparison to the previous month, it dropped by RM3.4 billion or 62.1%.
In data released by the department, the export growth was mainly spurred by an increase in the electrical and electronical (E&E) products, growing by RM4.8 billion to RM26.2 billion.
Palm oil and palm-oil based products which comprises of 8.2% of total export saw growth by RM1.2 billion to RM6.1 billion.
Palm oil and other major commodity sector in similar group of products saw a rise by 26.1% or RM766.5 million attributed by the increase in both the average unit value and export volume.
Exports in liquefied natural gas sector grew by 50.2% or RM1.1 billion to RM3.3 billion while crude petroleum which contributes 3.2% to total exports increased by RM935.5 million to RM2.4 billion.
Refined petroleum products, which takes up 5.1% of total exports saw its numbers declined by 15.8% to RM3.8 billion. Import trade numbers for April 2017 however expanded by 24.7% from RM52.3 billion year-on-year. It was due to higher imports of intermediate goods, capital goods as well as consumption goods.
The three segments which makes up 58.9% of total imports increased to RM38.4 billion.
Imports of consumption goods which makes up 8.7% of total imports recorded an increase by RM59.5 million to RM5.7 billion, mainly stemming from the food and beverage in both the processed and primary segment.