Year-on-year, exports increased by a lower-than-expected 0.2 percent to MYR66.6 billion, following a 6.7 percent growth in February. Sales rose for: electrical & electronic products (+0.4 percent to MYR24.1 billion, 36.2 percent share), palm oil and palm-based products (+6.7 percent to MYR5.2 billion, 7.8 percent share), refined petroleum products (+2.3 percent to MYR3.5 billion, 5.3 percent share) and timber & timber-based products (+5.5 percent to MYR1.9 billion, 2.9 percent share). In contrast, outbound shipments declined for: LNG (-43.7 percent to MYR3.1 billion, 4.6 percent share), crude petroleum (-9.1 percent to MYR1.8 billion, 2.6 percent share), and natural rubber (-19.8 percent to MYR265.0 million, 0.4 percent share).
Imports declined 5.5 percent to MYR55.4 billion, as compared to a 1.6 percent increase in the preceding month, driven by intermediate goods and capital goods. Inbound shipments of intermediate goods shrank 8.3 percent to MYR31.6 billion and accounted for 57 percent of total imports, led by drop in fuel and lubricants, processed, others products (-70.4 percent), industrial supplies, processed (-11.4 percent) and fuel and lubricants, primary (-36.2 percent). Those of capital goods fell 22.2 percent to MYR7.4 billion, representing 13.4 percent share. In contrast, imports of consumption goods rose 21.9 percent to MYR5.3 billion and accounted for 13.4 percent of total imports, due to the rise in semi-durables (+47.8 percent), food and beverages, primary (+49.5 percent) and food and beverages, processed (+19.5 percent).
Compared to the previous month, exports rose 17.4 percent, mainly to Singapore (+MYR1.4 billion), China (+MYR1.3 billion), US (+MYR875.4 million) and Vietnam (+MYR736.1 million). Imports also increased by 12.2 percent, mainly from China (+MYR1.1 billion), Taiwan (+MYR966.1 million), Thailand (+MYR611.9 million), Japan (+MYR565.4 million) and Vietnam (+MYR398.7 million).