Balance of Payments, Q1 2018 - MITI

(1)

Source: Department of Statistics, Malaysia

(2)

MITI Weekly Bulletin | www.miti.gov.my

Source: Department of Statistics, Malaysia

Malaysia Economy, Q1 2018

PRODUCTION

Services and Manufacturing sectors remained as the anchor to the economy

(3)

EXPENDITURE

Private and final consumption expenditure continued to be the key driver on the expenditure side

Source: Department of Statistics, Malaysia

(4)

MITI Weekly Bulletin MITI Weekly Bulletin | | www.miti.gov.mywww.miti.gov.my

Demographic Statistics, Q1 2018

Source: Department of Statistics, Malaysia

Demographic statistics by Selected Variables

(5)

Demographic Statistics, Q1 2018

Malaysia was the Largest Exporter of Gloves, Mittens and Mitts, of Vulcanised Rubber (excluding surgical gloves) in 2017

International Report

Note : Refers to HS401519

Source : http://www.trademap.org/Index.aspx

Malaysia’s Top Five Export Destinations for Gloves

% share 8.0 Germany

US$264.2 mil.

% share 6.9 Japan

US$227.2 mil.

% share 4.6 UK

US$152.2 mil.

% share 4.0

Brazil US$132.4 mil.

1 2 3 4 5

Malaysia : US$3,305.0m Thailand : ^US$805.0m

China : US$341.9m Indonesia : ^US$255.0m

Belgium : US$202.5m

(% Share) 57.8

(% Share) 14.1

(% Share) 6.0

(% Share) 4.5

(% Share) 3.5

USA US$1,133.5 mil.

% share 34.3

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MITI Weekly Bulletin MITI Weekly Bulletin | | www.miti.gov.mywww.miti.gov.my

Number and Value of Preferential Certificates of Origin (PCOs)

Note: *Provisional Data Source: Ministry of International Trade and Industry, Malaysia

Note: The preference giving countries under the GSP scheme are Liechtenstein, the Russian Federation, Japan, Switzerland, Belarus, Kazakhstan and Norway.

0 20 40 60 80 100 120 140 160 180

0 5 10 15 20 25 30 35 40

25 Feb 4 Mar 11 Mar 18 mar 25 Mar 1 Apr 8 Apr 15 Apr 22 Apr 29 Apr 6 May 13 May No. of Certificate of Origin

RM mil.

Generalised System of Preferences (GSP)

Total FOB (RM mil.) Total CO 0

1,000 2,000 3,000 4,000 5,000 6,000

0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000

RM mil.

ASEAN Trade in Goods Agreement (ATIGA)

Total FOB (RM mil.) Total CO

0 500 1,000 1,500 2,000 2,500

0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500

18 Feb 25 Feb 4 Mar 11 Mar 18 mar 25 Mar 1 Apr 8 Apr 15 Apr 22 Apr 29 Apr 6 May No. of Certificate of Origin

RM mil.

ASEAN-China Free Trade Agreement (ACFTA)

0 200 400 600 800 1,000 1,200 1,400

0 500 1,000 1,500 2,000 2,500

RM mil.

ASEAN-Korea Free Trade Agreement (AKFTA)

0 50 100 150 200 250 300

0 20 40 60 80 100 120 140 160

RM mil.

ASEAN-Japan Comprehensive Economic Partnership (AJCEP)

0 100 200 300 400 500 600 700 800 900 1,000

0 50 100 150 200 250 300

RM mil.

ASEAN-India Free Trade Agreement (AIFTA)

0 200 400 600 800 1,000 1,200 1,400 1,600 1,800

0 20 40 60 80 100 120 140

RM mil.

ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA)

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Number and Value of Preferential Certificates of Origin (PCOs)

Note: *Provisional Data Source: Ministry of International Trade and Industry, Malaysia

0 200 400 600 800 1,000 1,200

0 50 100 150 200 250 300 350 400 450 500

RM mil.

Malaysia-Japan Economic Partnership (MJEPA)

0 50 100 150 200 250

0 20 40 60 80 100 120 140

RM mil.

Malaysia-Pakistan Closer Economic Partnership (MPCEPA)

0 2 4 6 8 10 12 14 16 18

0.00 0.05 0.10 0.15 0.20 0.25 0.30 0.35 0.40 0.45 0.50

18 Feb 25 Feb 4 Mar 11 Mar 18 mar 25 Mar 1 Apr 8 Apr 15 Apr 22 Apr 29 Apr 6 May No. of Certificate of Origin

RM mil.

Malaysia-New Zealand Free Trade Agreement (MNZFTA)

0 20 40 60 80 100 120

0 10 20 30 40 50 60 70

RM mil.

Malaysia-Chile Free Trade Agreement (MCFTA)

0 50 100 150 200 250 300 350 400 450 500

0 10 20 30 40 50 60 70 80

RM mil.

Malaysia-India Comprehensive Economic Cooperation Agreement (MICECA)

0 100 200 300 400 500 600

0 10 20 30 40 50 60

RM mil.

Malaysia-Australia Free Trade Agreement (MAFTA)

0 50 100 150 200 250 300 350

0 50 100 150 200 250

RM mil.

Malaysia-Turkey Free Trade Agreement (MTFTA)

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Source : Bank Negara Malaysia

Malaysian Ringgit Exchange Rate with Selected Countries, January 2017 - April 2018

US Dollar

Philippine Peso

Vietnamese Dong

Hong Kong Dollar

Indonesian Rupiah

Indian Rupee

4.4596

3.8862

3.50 3.60 3.70 3.80 3.90 4.00 4.10 4.20 4.30 4.40 4.50 4.60

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr

2017 2018

RM

USD 1 = RM

8.9685

7.4635

6.50 7.00 7.50 8.00 8.50 9.00 9.50

2017 2018

RM

PHP 100 = RM

0.0197

0.0171

0.0155 0.0160 0.0165 0.0170 0.0175 0.0180 0.0185 0.0190 0.0195 0.0200

2017 2018

RM

VND 100 = RM

57.4972

49.5163

44.00 46.00 48.00 50.00 52.00 54.00 56.00 58.00 60.00

2017 2018

RM

HKD 100 = RM

0.0334

0.0282

0.025 0.026 0.027 0.028 0.029 0.030 0.031 0.032 0.033 0.034

2017 2018

RM

IDR 100 = RM

6.5503

6.8277

5.9212

5.40 5.60 5.80 6.00 6.20 6.40 6.60 6.80 7.00

2017 2018

RM

INR 100 = RM

(9)

Commodity Prices

Notes: All figures have been rounded to the nearest decimal point * Refer to % change from the previous week’s price i Average price in the year except otherwise indicated

Sources: Ministry of International Trade and Industry Malaysia, Malaysian Palm Oil Board, Malaysian Rubber Board, Malaysian Cocoa Board, Malaysian Iron and Steel Industry Federation, and Bloomberg.

CRUDE PETROLEUM (BRENT) -per bbl-

18 May 2018 : US$78.5, 1.8%*

Average Price

ⁱ

: 2017: US$55.0 2016: US$45.3 CRUDE PALM OIL

-per MT-

18 May 2018 : US$655.0, 2.1%*

Average Price

ⁱ

: 2017: US$719.7 2016: US$702.2

RUBBER SMR 20 -per MT-

18 May 2018 : US$1,431.5, 0.3%*

Average Price

ⁱ

: 2017: US$1,646.6 2016: US$1,394.5

COAL -per MT-

18 May 2018 : US$58.3, 3.1%*

Average Price

ⁱ

: 2017: US$57.2 2016: US$45.6 COCOA SMC 2

-per MT-

18 May 2018 : US$1,785.3, 6.8%*

Average Price

ⁱ

: 2017: US$1,439.0 2016: US$1,609.8

SCRAP IRON HMS -per MT-

18 May 2018 :US$350.0

^(high)

, unchanged

US$330.0

^low)

, unchanged

Average Price

ⁱ

: 2017: US$314.5 2016: US$243.2

HIGHEST and LOWEST 2017/2018

Highest

18 May 2018 : US$78.5 29 Dec 2017 : US$66.9

Lowest

9 Feb 2018 : US$62.8 23 June 2017 : US$45.5

Crude Petroleum

(Brent) -per bbl-

Highest

9 Mar 2018 : US$691.5 20 Jan 2017 : US$843.0

Lowest

30 June 2017 : US$650.0 23 Feb 2018 : US$653.5

Crude Palm Oil -per MT-

Domestic Prices 18 May 2018

Steel Bars

(per MT)

RM2,400 – RM2,550

Billets

(per MT) RM2,200 – RM2,250

SUGAR -per lbs-

18 May 2018 : US¢11.7, 3.9%*

Average Price

ⁱ

: 2017: US¢15.8

2016: US¢18.2

(10)

Commodity Price Trends

Sources: Ministry of International Trade and Industry Malaysia, Malaysian Palm Oil Board, Malaysian Rubber Board, Malaysian Cocoa Board, Malaysian Pepper Board, Bloomberg and Czarnikow Group, World Bank, World Gold Council, The Wall Street Journal.

673.5 691.5

673.5 676.0 677.0 675.8 674.5 665.5

654.0

641.7 641.5 655.0

610 620 630 640 650 660 670 680 690 700

3 Mar 9 Mar 16 Mar 23 Mar 29 Mar 6 Apr 13 Apr 20 Apr 27 Apr 4 May 11 May 18 May

US$/mt

Crude Palm Oil

1,532.2 1,673.3

1,720.21,699.5 1,719.2

1,672.5 1,662.6 1,849.9

1,888.01,918.9 1,915.5

1,785.3

1,200 1,300 1,400 1,500 1,600 1,700 1,800 1,900 2,000

US$/mt

Cocoa

13.4

12.8

12.7 12.6

12.4 12.3 12.2

11.9

11.5 11.5 11.2

11.7

10.0 10.5 11.0 11.5 12.0 12.5 13.0 13.5 14.0

US¢/lbs

Sugar

1,487.5

1,453.01,463.0

1,361.5 1,384.5

1,353.0 1,398.5

1,425.5

1,388.5

1,438.5 1,435.51,431.5

1,250 1,300 1,350 1,400 1,450 1,500

US$/mt

Rubber SMR 20

6,900 7,088 7,113 7,281 6,917 6,851 6,730 6,337 6,085 5,965 4,516 3,984 4,366 4,605 4,170 4,474 4,463 3,974 2,950 3,476 4,114

2,500 3,000 3,500 4,000 4,500 5,000 5,500 6,000 6,500 7,000 7,500

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep

2016 2017

USD/ tonne

Black Pepper

61.3 62.0 62.3

65.9 64.9

62.1

67.4 67.4 68.1

69.7 70.7 71.3

64.4 65.5 66.2

70.5 70.3 67.1

72.6

74.1 74.6 74.9 77.1

78.5

50 55 60 65 70 75 80

US$/bbl

Crude Petroleum

Crude Petroleum (WTI)/bbl Crude Petroleum (Brent)/bbl

(11)

Commodity Price Trends

Sources: Ministry of International Trade and Industry Malaysia, , Malaysian Iron and Steel Industry Federation, Bloomberg and Czarnikow Group, World Bank, World Gold Council, The Wall Street Journal.

63.8 63.8 63.4 63.0

60.8

59.2 59.2 58.9

56.6 56.6 56.6 58.3

52.0 54.0 56.0 58.0 60.0 62.0 64.0 66.0

US$/t

Coal

1,791 1,861 1,901 1,921 1,913 1,885 1,903 2,030 2,096 2,131 2,097 2,080 2,210 2,182 2,069 2,255

1,400 1,500 1,600 1,700 1,800 1,900 2,000 2,100 2,200 2,300

2017 2018

US$/ tonne

Aluminium

5,755 5,941 5,825 5,684 5,600 5,720 5,985 6,486 6,577 6,808 6,827 6,834 7,066 7,007 6,799 6,852

4,000 4,500 5,000 5,500 6,000 6,500 7,000 7,500

2017 2018

US$/ tonne

Copper

9,971 10,643 10,205 9,609 9,155 8,932 9,491 10,890 11,216 11,336 11,972 11,495 12,865 13,596 13,393 13,938

7,000 8,000 9,000 10,000 11,000 12,000 13,000 14,000 15,000

2017 2018

US$/ tonne

Nickel

395.0

410.0 410.0 410.0 410.0 400.0

380.0 380.0

350.0 350.0 350.0 350.0 385.0

400.0

395.0 395.0 395.0 385.0

350.0 340.0

330.0 330.0 330.0 330.0

300 320 340 360 380 400 420

US$/mt

Scrap Iron

Scrap Iron/MT (High) Scrap Iron/MT(Low)

80.41 89.44 87.65 70.22 62.43 57.48 67.74 76.07 71.53 61.66 64.24 72.25 76.34 77.46 70.35 65.75

30.0 40.0 50.0 60.0 70.0 80.0 90.0 100.0

2017 2018

US$/dmtu

Iron Ore

42.5 42.5 42.1

43.3

42.6 42.7 43.1

43.4

42.5 42.3 42.4

41.5

40.5 41.0 41.5 42.0 42.5 43.0 43.5 44.0

US$/oz

Gold

16.6 16.5 16.5

16.7

16.3 16.5 16.5

17.2

16.6 16.5

16.8

16.5

15.8 16.0 16.2 16.4 16.6 16.8 17.0 17.2 17.4

US$/oz

Silver

971.0

952.0 954.0 960.0

939.0

913.0 929

936.0

914.0 904.0

929.0

888.0

840.0 860.0 880.0 900.0 920.0 940.0 960.0 980.0

US$/oz

Platinum

(12)

MITI PROGRAMME MITI PROGRAMME

Launch of Ihya Ramadhan at MITI Tower

17 May 2018

(13)

MITI PROGRAMME MITI PROGRAMME

MITI's Secretary General at SEMICON Southeast Asia 2018, 22 May 2018

(14)

MITI Weekly Bulletin | www.miti.gov.my MITI Weekly Bulletin | www.miti.gov.my

The Ministry of International Trade and Industry (MITI) wishes to inform that the antidumping duties imposed on imports of electrolytic tinplate originating or exported from the People’s Republic of China and the Republic of Korea are due to expire on 15 November 2018.

The subject merchandise is the electrolytic tinplate classified under Harmonised System Code (H.S Code) Number 7210.12.9000. Under the Customs (Anti-Dumping Duties) (No.3) Order 2013 [P.U. (A) 339/2013], the electrolytic tinplate is subject to anti-dumping duty rates ranging from nil to 9.78% of the export price from 16 November 2013 to 15 November 2018.

Interested parties likely to be affected by the termination of the imposition of the antidumping duties are invited to make their views known in writing. The views shall, in particular, address the following issues:

1. whether the continued imposition of the anti-dumping duties is necessary to offset the dumping of the subject merchandise; and

2. whether the injury is likely to continue or recur if the duties were removed. The views shall be duly substantiated with sufficient documentary evidence.

Interested parties must present their views and submit the required information not later than 30 June 2018.

The submission of the views shall be addressed to:

Director

Trade Practices Section

Ministry of International Trade and Industry (MITI) Level 9, Menara MITI

No. 7, Jalan Sultan Haji Ahmad Shah 50480 Kuala Lumpur

MALAYSIA

Telephone Number : (603) 6208 4631/4639/4660 Facsimile Number : (603) 6211 4429

E-mail address : [email protected]

MEDIA RELEASE

Notice of Impending Termination of the Imposition of Anti-Dumping Duties on Imports of Electrolytic Tinplate Originating or Exported from the

People’s Republic of China and the Republic of Korea

Ministry of International Trade and Industry Kuala Lumpur, Malaysia

15 May 2018

(15)

Source: http://www.miti.gov.my/index.php/glossary

of Technical Terms

GVC Global Value Chain - The different processes in different parts of the world that each add value to the goods or services being produced.

Horizontal Approach

Approach to address NTBs in all sectors. For example elimination of export taxes.

HRC Hot Rolled Coil - steel processed at a high temperature (typically at a temperature over 1700° F), which is above the steel’s recrystallization temperature. When steel is above the recrystallization temperature, it can be shaped and formed easily, and the steel can be made in much larger sizes.

HS Harmonized System Tariff Code. An international nomenclature developed by the World Customs Organization, which is arranged in six-digit codes allowing all participating countries to classify traded goods on a common basis. Beyond the six-digit level, countries are free to introduce national distinctions for tariffs and many other purposes.

HS (13)

Agriculture support (subsidies) which is exempted from reduction commitments under the WTO Agriculture Agreement and permitted without limit. Green Box subsidies include genuine relief to farmers through a wide range of assistance measures which have minimal impact on trade. Examples include subsidies for disaster relief, research, disease control, infrastructure, environment protection and food security.

Green Room mini-Ministerial Meeting

Meeting attended by Trade Ministers from selected countries which participate actively in the WTO negotiations.

Malaysia has been included in this process.

Gross Domestic Products (GDP)

The total value of goods produced and services provided in a country during a fiscal year.

GDP can be estimated in three ways, which, in theory should yield identical figures:

• Expenditure basis i.e. how much money was spent;

• Output basis i.e. how many goods and services were sold; and

• Income basis i.e. how much income (profit) was earned.

Gross National Product (GNP)

Total output of an economy, plus net income from abroad, for a given fiscal year (i.e. GNP = GDP + net income from abroad)

GST Goods and Services Tax (GST) - is a multi-stage tax on domestic consumption. GST is charged on all taxable supplies of goods and services in Malaysia except those specifically exempted. GST is also charged on importation of goods and services into Malaysia. In Malaysia, a person who is registered under the Goods and Services Tax Act 2014 is known as a

“registered person”. A registered person is required to charge GST (output tax) on his taxable supply of goods and services

made to his customers. He is allowed to claim back any GST incurred on his purchases (input tax) which are inputs to

his business. Therefore, the tax itself is not a cost to the intermediaries and does not appear as an expense item in their

financial statements.

(16)

Announcement

Tentative Schedule for MITI Pocket Talk 2018

No. Date Venue Topic

1 6-Jun MITI HQ • Introduction Preferential Certificate of Origin (PCO)

• Updates on RCEP

2 18-Jul MITI Kelantan • Introduction to FTA & Preferential Certificate of Origin (PCO)

3 8-Aug MITI HQ • Introduction Preferential Certificate of Origin (PCO)

• Updates on RCEP

4 15-Aug MITI Perak • Introduction to FTA & Preferential Certificate of Origin (PCO)

5 19-Sep MITI Pahang • Introduction to FTA & Preferential Certificate of Origin (PCO)

6 17-Oct MITI HQ • Introduction to FTA & Preferential Certificate of Origin (PCO)

7 14-Nov MITI Sabah • Introduction to FTA & Preferential Certificate of Origin (PCO)

8 5-Dec MITI HQ • Introduction to FTA & Preferential Certificate of Origin (PCO)

9 12-Dec MITI Sarawak • Introduction to FTA & Preferential Certificate of Origin (PCO)

Please click here to register

(17)

Announcement

Withholding Tax

For more information on Withholding Tax, please visit LHDN’s website via this link:

http://www.hasil.gov.my/bt_goindex.php?bt_kump=2&bt_skum=6&bt_posi=1&bt_unit=5&bt_sequ=1&bt_lgv=2

Industry 4.0

For more information on Industry 4.0, please visit MITI’s website via this link:

http://www.miti.gov.my/index.php/pages/view/industry4.0?mid=559

Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)

For more information on Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) please visit MITI’s website via this link: http://fta.miti.gov.my/index.php/pages/view/71?mid=40

MITI Weekly Bulletin Editorial Committee

to all readers...

MITI Weekly Bulletin Editorial Committee

to all readers...

(18)

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Balance of Payments, Q1 2018 - MITI

Source: Department of Statistics, Malaysia

Source: Department of Statistics, Malaysia

Malaysia Economy, Q1 2018

PRODUCTION

Services and Manufacturing sectors remained as the anchor to the economy

EXPENDITURE

Private and final consumption expenditure continued to be the key driver on the expenditure side

Source: Department of Statistics, Malaysia

Demographic Statistics, Q1 2018

Source: Department of Statistics, Malaysia

Demographic statistics by Selected Variables

Demographic Statistics, Q1 2018

Malaysia was the Largest Exporter of Gloves, Mittens and Mitts, of Vulcanised Rubber (excluding surgical gloves) in 2017

International Report

Note : Refers to HS401519

Source : http://www.trademap.org/Index.aspx

Malaysia’s Top Five Export Destinations for Gloves

% share 8.0 Germany

US$264.2 mil.

% share 6.9 Japan

US$227.2 mil.

% share 4.6 UK

US$152.2 mil.

% share 4.0

Brazil US$132.4 mil.

1 2 3 4 5

Malaysia : US$3,305.0m Thailand : US$805.0m

China : US$341.9m Indonesia : US$255.0m

Belgium : US$202.5m

(% Share) 57.8

(% Share) 14.1

(% Share) 6.0

(% Share) 4.5

(% Share) 3.5

USA US$1,133.5 mil.

% share 34.3

Number and Value of Preferential Certificates of Origin (PCOs)

Number and Value of Preferential Certificates of Origin (PCOs)

Malaysian Ringgit Exchange Rate with Selected Countries, January 2017 - April 2018

US Dollar

Philippine Peso

Vietnamese Dong

Hong Kong Dollar

Indonesian Rupiah

Indian Rupee

Commodity Prices

Notes: All figures have been rounded to the nearest decimal point * Refer to % change from the previous week’s price i Average price in the year except otherwise indicated

Sources: Ministry of International Trade and Industry Malaysia, Malaysian Palm Oil Board, Malaysian Rubber Board, Malaysian Cocoa Board, Malaysian Iron and Steel Industry Federation, and Bloomberg.

CRUDE PETROLEUM (BRENT) -per bbl-

18 May 2018 : US$78.5, 1.8%*

Average Price

: 2017: US$55.0 2016: US$45.3 CRUDE PALM OIL

-per MT-

18 May 2018 : US$655.0, 2.1%*

Average Price

: 2017: US$719.7 2016: US$702.2

RUBBER SMR 20 -per MT-

18 May 2018 : US$1,431.5, 0.3%*

Average Price

: 2017: US$1,646.6 2016: US$1,394.5

COAL -per MT-

18 May 2018 : US$58.3, 3.1%*

Average Price

: 2017: US$57.2 2016: US$45.6 COCOA SMC 2

-per MT-

18 May 2018 : US$1,785.3, 6.8%*

Average Price

: 2017: US$1,439.0 2016: US$1,609.8

SCRAP IRON HMS -per MT-

18 May 2018 :US$350.0

, unchanged

US$330.0

, unchanged

Average Price

: 2017: US$314.5 2016: US$243.2

HIGHEST and LOWEST 2017/2018

Highest

18 May 2018 : US$78.5 29 Dec 2017 : US$66.9

Lowest

Malaysia : US$3,305.0m Thailand : ^US$805.0m

China : US$341.9m Indonesia : ^US$255.0m