Malaysia's trade remains on growth trend in May
KUALA LUMPUR: While overall trade value remained on the rise, Malaysia's exports were a slight 1.1% lower year-on-year (y-o-y) to RM126.62bil in May 2025, owing to a decrease in outbound shipments of manufactured and mining goods.
Manufacturing exports fell a marginal 0.3% y-o-y to RM110.01bil owing to a drop in shipments of products related to petroleum, chemicals as well as iron and steel, said the Ministry of Investment, Trade and Industry (Miti) in its latest trade report.
The decline in manufacturing exports, however, was cushioned by the robust shipments of electronic and electrical (E&E) products, machinery, equipment and parts as well as processed food.
Malaysia's exports of mining goods fell 23.6% y-o-y to RM5.86bil on lower export volume of liquefied natural gas (LNG), as well as crude petroleum following the decrease in export volumes and prices. This was partially mitigated by an increase in exports of petroleum condensates and other petroleum oils.
Meanwhile, exports of agricultural goods increased 8.3% y-o-y to RM9.81bil on higher exports of palm oil and palm oil-based agriculture products due to higher export volumes and prices.
Malaysia's overall trade value in May, however, remained on an upward trajectory, rising 2.6% y-o-y to RM252.48bil, as the country chalked up a higher import value of RM125.86bil, a 6.6% increase from the same month a year ago.
Malaysia maintained a trade surplus of RM766.3mil during the month.
According to to Miti, exports to Asean trading partners dropped 10.9% y-o-y to RM35.74bil in May on lower demand for petroleum and E&E products.
Shipments to China fell 4.3% y-o-y to RM15.05bil, underpinned by lesser exports of LNG, chemicals and chemical products as well as paper and pulp products.
In contrast, exports to the US grew by double digits for an eighth consecutive month. The export value rose 16.1% y-o-y to RM18.68bil on robust exports of E&E products, processed food as well as machinery, equipment and parts.
On imports, the value of intermediate goods declined 4.4% y-o-y to RM65.13bil due to lower imports of primary fuel and lubricants. Imports of consumption goods also contracted 1.1% y-o-y to RM10.07bil due to lower imports of primary food and beverages, mainly for household consumption.
The inbound shipments of capital goods, however, surged 63.7% to RM22.72bil due to higher imports of non-transport capital goods.
Over the five month period from January to May 2025, Malaysia's total trade rose 6.2% y-o-y to RM1.23 trillion.
Exports rose 5.5% during this period to RM638.48bil while imports expanded 6.9% to RM591.54bil. The cumulative trade surplus stood at RM46.94bil, down 9.4% y-o-y.
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