Exports of manufactured goods in September 2020 which made up 87.7 percent of total exports has picked up by 16.3 percent y-o-y to RM77.99 billion.
According to the Ministry of International Trade and Industry Malaysia, the expansion was due mainly to higher shipments of electrical and electronic (E&E) products, rubber products, other manufactures especially solid-state storage devices (SSD), iron and steel products as well as optical and scientific equipment.
Exports of agriculture goods further surged by 26.6 percent to RM 6.55 billion compared to September 2019. The surge was buoyed mainly by higher exports of palm oil and palm-oil based agriculture products.
Totalling the first nine months of the year, exports of agriculture goods improved by 2.3 percent to RM 50.91 billion attributed to higher exports of palm oil and palm-oil based agriculture products.
On the other end, exports of mining goods declined by 27.4 percent y-o-y to RM4.02 billion on account of lower exports of liquefied natural gas (LNG).
On a m-o-m basis, exports of manufactured and agriculture goods increased by 13.8 percent and 14.6 percent, respectively while mining goods declined by 11.8 percent.
“During the first 9 months of the year, exports of manufactured goods fell by 1.5% to RM611.35 billion compared to the same period of 2019, on account of lower exports of chemicals and chemical products, manufactures of metal, petroleum products as well as jewellery,” MITI stated.
Exports of mining goods this year in total has contracted by 27.2 percent to RM44.48 billion due to lower exports of LNG, crude petroleum as well as petroleum condensates and other petroleum oil.