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

Weekly

Weekly ^BULLETIN ^BULLETIN

VOLUME 605 VOLUME 605

29 September 2020 | NO. ISSN :2180-0448 29 September 2020 | NO. ISSN :2180-0448

TRADE PERFORMANCE FOR AUGUST 2020 AND THE PERIOD OF JANUARY-AUGUST 2020

Double Digit Year-on-Year Growth in August Trade Surplus

In August 2020, Malaysia’s trade surplus registered a double digit growth of 19.7% to RM13.23 billion compared to August 2019, exceeding RM10 billion for the seventh time in year 2020. Trade totalled RM145.06 billion, a decrease of 4.6% compared to August 2019. Lower trade was recorded particularly with Thailand, Bangladesh, Indonesia and Japan.

Meanwhile, higher trade was registered with the United States (US), China and Saudi Arabia. Exports amounted to RM79.14 billion, decreased by 2.9%

while imports slipped by 6.5% to RM65.92 billion.

On a month-on-month (m-o-m) basis, total trade, exports and imports contracted by 9.3%, 14.5% and 2.2%, respectively. Trade surplus dipped by 47.5%.

For the first 8 months of 2020, trade surplus rose by 2.9% to RM102.98 billion compared to the same period of 2019. Total trade was valued at RM1.138 trillion, a decline of 6.5% mainly on lower trade with Thailand, Singapore, India and Japan.

Higher trade however was registered with the Republic of Korea (ROK), the US, Bahrain and China.

Exports during the period totalled RM620.64 billion, reduced by 5.8% while imports totalled RM517.66 billion, contracted by 7.3%.

Export Performance of Major Sectors

E&E and Rubber Products Cushioned Manufactured Exports

Exports of manufactured goods in August 2020 accounted for RM68.57 billion or 86.6% of total

exports, fell marginally by 0.1%, year-on-year (y-o-y). This was due mainly to lower exports of manufactures of metal and chemicals and chemical products. The contraction however was cushioned by higher exports of electrical and electronic (E&E) products and rubber products.

Exports of agriculture goods (7.2% share) was valued at RM5.71 billion, decreased by .5%

y-o-y, mainly on lower exports of sawn timber and moulding as well as natural rubber. Meanwhile, exports of palm oil and palm oil-based agriculture products registered an increase.

Exports of mining goods (5.8% share) amounted to RM4.55 billion, dropped by 25.9% y-o-y mainly on lower exports of liquefied natural gas (LNG).

Major exports in August 2020:

• E&E products, valued at RM31.93 billion and constituted 40.3% of total exports, increased by 7.6% from August 2019;

• Petroleum products, RM4.57 billion, 5.8%

of total exports, decreased by 15.9%;

• Palm oil and palm oil-based agriculture products, RM4.1 billion, 5.2% of total exports, increased by 0.4%;

• Rubber products, RM3.74 billion, 4.7% of total exports, increased by 66.8%; and

• Chemicals and chemical products, RM3.65 billion, 4.6% of total exports, decreased by 23.4%.

Compared to July 2020, exports of manufactured, agriculture and mining goods declined by 15.3%, 13% and 2.7%, respectively.

In January to August 2020, exports of manufactured goods shrank by 3.7% to RM533.38 billion compared to the same period of 2019, held by lower exports of E&E products, chemicals and chemical products, manufactures of metal as well as petroleum products.

However, higher demand was recorded for rubber products, other manufactures especially solid-state storage devices (SSD), transport equipment as well as optical and scientific

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of sawn timber and moulding as well as natural rubber, while exports of palm oil and palm oil-based agriculture products increased. Exports of mining goods declined by 27.2% to RM40.46 billion due to lower exports of LNG, crude petroleum as well as petroleum condensates and other petroleum oil.

Trade Performance with Major Markets

Exports of E&E and Petroleum Products Continued to Expand to ASEAN in August 2020 Trade with ASEAN in August 2020 which contributed RM35.64 billion or 24.6% to Malaysia’s total trade, dipped by 10.4% compared to August 2019.

Exports amounted to RM21.09 billion, edged down by 8% due to lower exports of crude petroleum, manufactures of metal, chemicals and chemical products as well as machinery, equipment and parts. Growth in exports however was recorded for E&E products and petroleum products. Imports from ASEAN fell by 13.7% to RM14.55 billion.

Breakdown of exports to ASEAN countries:

• Singapore RM11.03 billion, increased by

• 0.8%Thailand RM3.27 billion, ↓23.0%

• Viet Nam RM2.77 billion, ↓6.4%

• Indonesia RM2.06 billion, ↓20.8%

• Philippines RM1.43 billion, ↓4.3%

• Myanmar RM225.0 million, ↑21.8%

• Brunei RM184.7 million, ↓8.9%

• Cambodia RM116.5 million, ↓59.7%

• Lao PDR RM3.5 million, ↑23.6%

Exports to markets in ASEAN that recorded expansion include Singapore, which increased by RM90.4 million due to higher exports of E&E products, Myanmar (↑RM40.3 million, chemicals and chemical products) and Lao PDR (↑RM0.7 million, textiles, apparels and footwear).

On a m-o-m basis, trade, exports and imports recorded a contraction of 13%, 17.7% and 5.3%, respectively.

During the first 8 months of 2020, trade with ASEAN was valued at RM285.93 billion, slipped by 11.9%

compared to the same period of 2019. Exports to this region contracted by 7.9% to RM174.91 billion as a result of lower exports of crude petroleum, manufactures of metal as well as chemicals and chemical products. However, increases in exports were recorded for transport equipment, other manufactures (SSD) and palm oil and palm oil- based agriculture products. Imports was down by 17.4% to RM111.02 billion.

Exports to China Sustained Double Digit Growth for 3 Consecutive Months

In August 2020, trade with China increased by 4.3% y-o-y to RM27.7 billion, contributing 19.1%

months, surged by 20.9% to RM13.97 billion.

This was boosted mainly by higher exports of E&E products, iron and steel products as well as other manufactures (SSD). Imports from China was down by 8.5% to RM13.73 billion.

Compared to July 2020, trade, exports and imports contracted by 5.9%, 10.3% and 1%, respectively.

Trade with China in the first 8 months of 2020 picked up by 0.7% to RM206.3 billion compared to the same period of 2019. Exports to China accelerated by 9.9% to RM98.98 billion due to higher shipment of iron and steel products, other manufactures (SSD), manufactures of metal as well as palm oil and palm oil-based agriculture products. Imports from China contracted by 6.5% to RM107.32 billion.

Sturdy Demand for Manufactured Goods from the US in August 2020

Trade with the US in August 2020 grew by 8.2%

y-o-y to RM15.63 billion, representing 10.8%

of Malaysia’s total trade. Exports to the US continued to expand for 3 consecutive months, recording a double digit growth of 13.6% to RM9.46 billion driven mainly by expansion in exports of manufactured goods. Higher demand for manufactured goods was seen especially for rubber products, wood products, optical and scientific equipment, machinery, equipment and parts as well as other manufactures (SSD).

Imports from the US expanded by 0.9% to RM6.17 billion.

Compared to July 2020, trade, exports and imports shrank by 10.6%, 15.3% and 2.3%, respectively.

During the period of January to August 2020, trade with the US expanded by 6.1% to RM113.51 billion compared to the same period of 2019.

Exports climbed by 7.3% to RM66.77 billion aided by higher demand for rubber products, wood products and other manufactures (SSD).

Imports from the US climbed by 4.5% to RM46.74 billion.

Rubber Products and Palm Oil Cushioned Export Decline to the EU in August 2020 Total trade with the European Union (EU) which constituted 8.2% of Malaysia’s total trade in August 2020, decreased by 9.1% y-o-y to RM11.93 billion. Exports totalled RM6.96 billion, declined by 4.3%, underpinned mainly by lower exports of E&E products as well as manufactures of metal. Meanwhile, increases in exports were registered for rubber products as well as palm oil and palm oil-based agriculture products. Imports from the EU slid by 15% to RM4.97 billion.

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Among the top 10 EU markets which accounted for 90.7% of Malaysia’s total exports to the EU, exports to 7 countries recorded increases namely, Germany (↑7.6%), Italy (↑24.9%), Spain (↑4.9%), Slovenia (↑57.5%), the Czech Republic (↑27%), Poland (↑11.9%) and Hungary (↑0.5%).

On a m-o-m basis, trade and exports shrank by 4.5%

and 9.8% respectively, while imports increased by 4.1%.

For the first 8 months of 2020, trade with the EU amounted to RM91.7 billion, a decline of 15.9%

compared to the same period of 2019. Exports totalled RM52.94 billion, a decrease of 12.4% owing to lower exports of E&E products. Higher exports however was recorded for rubber products as well as palm oil and palm oil-based agriculture products.

Imports from the EU amounted to RM38.76 billion, a decrease of 20.2%.

Slower Trade with Japan in August 2020

In August 2020, trade with Japan which constituted 6.4% of Malaysia’s total trade fell by 10.5% y-o-y to RM9.23 billion. Exports decreased by 13.8%

to RM4.31 billion following lower exports of LNG and manufactures of metal. Growth in exports was recorded for crude petroleum, optical and scientific equipment, rubber products as well as palm oil and palm oil-based agriculture products. Imports from Japan slipped by 7.2% to RM4.92 billion.

On a m-o-m basis, trade and exports decreased by 6.7% and 17% respectively, while imports increased by 4.7%.

For the period of January to August 2020, trade with Japan slumped by 7.9% to RM78.75 billion compared to the same period of 2019. Exports dropped by 9.6% to RM40.39 billion mainly on lower exports of LNG. Higher exports however was registered for crude petroleum, rubber products, optical and scientific equipment as well as palm oil and palm oil-based agriculture products. Imports from Japan fell by 6% to RM38.36 billion.

Trade with FTA Partners

In August 2020, trade with Free Trade Agreement (FTA) partners which accounted for 65.3% of Malaysia’s total trade recorded a decline of 5.5%

y-o-y to RM94.77 billion.

Exports to FTA partners amounted to RM53.3 billion, decreased by 1.7% while imports contracted by 10% to RM41.47 billion.

Increases in exports however were recorded to the ROK, by 1.5% to RM2.83 billion and Turkey (↑6% to RM575.6 million) on account of higher exports of E&E products.

Compared to July 2020, trade, exports and imports were down by 9.8%, 15.1% and 2%, respectively.

Trade with FTA partners for the first 8 months of 2020 which accounted for 66.5% of Malaysia’s total trade reduced by 6.4% to RM757.01 billion.

Exports during this period amounted to RM424.05 billion, a decline of 5.5% while imports totalled RM332.96 billion, lower by 7.5%.

Import Performance

Total imports in August 2020 contracted by 6.5%

y-o-y to RM65.92 billion from RM70.46 billion in August 2019. The three main categories of imports by end use which accounted for 75.9%

of total imports were:

• Intermediate goods, valued at RM36.86 billion or 55.9% share of total imports, decreased by 5.6%, following lower imports of processed industrial supplies, particularly iron and steel;

• Capital goods, valued at RM6.81 billion or 10.3% of total imports, decreased by 15.5%, due mainly to reduced imports of capital goods (except transport equipment), primarily parts of machinery and mechanical appliances; and

• Consumption goods, valued at RM6.39 billion or 9.7% of total imports, rose by 2.9%, as a result of higher imports of durables, especially parts of machinery and mechanical appliances.

During January to August 2020, imports amounted to RM517.66 billion, decreased by 7.3% from the same period of 2019. Imports of intermediate goods totalled RM278.27 billion, decreased by 9.3%, capital goods (RM59.93 billion, ↓8.5%) and consumption goods (RM47.64 billion,

Ministry of International Trade and Industry 28 September 2020

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Mala ysia Sta tistics

Source: Department of Statistics, Malaysia

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Interna tional R e por t

A big public investment push with effective international support and coordination could double the global growth rate over the next decade along with improved debt sustainability and a fairer distribution of income

ADOPT AUSTERITY

If no other shock or contractionary forces surface, a global growth around 4%

next year should be possible. That will take the world to what some are calling the

“90% economy” (see Figure 1) which, in the absence of serious reform, will not only be smaller than before but more fragile, more unequal and less innovative.

Much of the discomfort

comes from the ongoing

disconnect between the

financial and real sectors

of the economy (see Figure

2), which carries the threat

of a policy reversal after

disaster relief ends.

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Interna tional Mer chandise T rade

World largest exporter of gloves, mittens and mitts, World largest exporter of gloves, mittens and mitts,

of vulcanised rubber (excluding surgical gloves) of vulcanised rubber (excluding surgical gloves)**

1

4 2

3 5

MALAYSIA US$ 3.8b

58.3%

THAILAND US$ 0.9b

14.2%

INDONESIA US$ 0.3b

3.9%

BELGIUM US$ 0.3b

3.4%

P.R.CHINA US$ 0.4b

6.4% In 2019, Malaysia’s export of gloves, mittens and mitts, of vulcanised rub- ber (excluding surgi- cal gloves) recorded US$3.8 billion with 58.3% share to the world exports

Top Five Malaysia Export Destinations Top Five Malaysia Export Destinations

United States US$ 1,404.8m

1

2 5

4 3

P.R.China US$145.5m United Kingdom US$166.8m

Japan

US$ 244.5m Germany US$275.6m

Sources: https://www.trademap.org/index.aspx

Note: *HS401519

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Number and FOB Value of PCO as at 13 September 2020 Weekly / Monthly/ Annually

Number and FOB Value of PCO as at 20 September 2020 Weekly / Monthly/ Annually

0 10,000 20,000 30,000 40,000 50,000 60,000 70,000

24 25 26 27 28 29 30 31 32 33 34 35 36 37 38

2020 Total No of CO

TOTAL BILATERAL TOTAL REGIONAL

0.0 2,000.0 4,000.0 6,000.0 8,000.0 10,000.0 12,000.0 14,000.0 16,000.0 18,000.0 20,000.0

24 25 26 27 28 29 30 31 32 33 34 35 36 37 38

RM mil.

2020 Total FOB (RM mil)

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

2012 2013 2014 2015 2016 2017 2018 2019 2020

(Jan-Aug) Total No of CO

0.0 5,000.0 10,000.0 15,000.0 20,000.0 25,000.0 30,000.0 35,000.0 40,000.0 45,000.0

Jan Feb Mar Apr May June Jul Aug

RM mil.

2020 Total FOB (RM mil)

TOTAL BILATERAL TOTAL REGIONAL 0

10,000 20,000 30,000 40,000 50,000 60,000

Jan Feb Mar Apr May June Jul Aug

2020 Total No of CO

0.0 50,000.0 100,000.0 150,000.0 200,000.0 250,000.0 300,000.0 350,000.0 400,000.0 450,000.0

2012 2013 2014 2015 2016 2017 2018 2019 2020

(Jan-Aug)

RM mil.

Total FOB (RM mil)

Weekly

Annually

Monthly

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Sale s V alu e

Number and Value of Preferential Certificates of Origin (PCOs)

Source: Ministry of International Trade and Industry, Malaysia

-100 0 100 200 300 400 500 600 700 800 900

0 10 20 30 40 50 60 70 80

5 Jul 12 Jul 19 Jul 26 Jul 2 Aug 9 Aug 16 Aug 23 Aug 30 Aug 6 Sep 13 Sep 20 Sep No. of Certificate of Origin

RM mil.

Generalised System of Preferences (GSP)

Total FOB (RM mil.) Total CO Note:

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

-*Provisional Data 0

5,000 10,000 15,000 20,000 25,000 30,000 35,000

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

RM mil.

ASEAN Trade in Goods Agreement (ATIGA)

Total FOB (RM mil.) Total CO

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

0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000

RM mil.

ASEAN-China Free Trade Agreement (ACFTA)

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

0 200 400 600 800 1,000 1,200

RM mil.

ASEAN-Korea Free Trade Agreement (AKFTA)

0 200 400 600 800 1,000 1,200

0 100 200 300 400 500 600

RM mil.

ASEAN-Japan Comprehensive Economic Partnership (AJCEP)

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

0 100 200 300 400 500 600 700

RM mil.

ASEAN-India Free Trade Agreement (AIFTA)

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

0 1,000 2,000 3,000 4,000 5,000 6,000

RM mil.

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

0 1 2 3 4 5 6 7

0 1 1 2 2 3

RM mil.

ASEAN-Hong Kong, China Free Trade Agreement (AHKFTA)

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Number and Value of Preferential Certificates of Origin (PCOs)

Note: *Provisional Data

0 1,000 2,000 3,000 4,000 5,000 6,000 7,000

0 200 400 600 800 1,000 1,200

RM mil.

Malaysia-Japan Economic Partnership Agreement (MJEPA)

0 200 400 600 800 1,000 1,200

0 50 100 150 200 250 300 350 400

RM mil.

Malaysia-Pakistan Closer Economic Partnership Agreement (MPCEPA)

0 2 4 6 8 10 12

0.00 0.10 0.20 0.30 0.40 0.50 0.60

RM mil.

Malaysia-New Zealand Free Trade Agreement (MNZFTA)

0 50 100 150 200 250 300 350 400 450

0 10 20 30 40 50 60

RM mil.

Malaysia-Chile Free Trade Agreement (MCFTA)

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

0 50 100 150 200 250 300 350 400

RM mil.

Malaysia-India Comprehensive Economic Cooperation Agreement (MICECA)

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

0 50 100 150 200 250

RM mil.

Malaysia-Australia Free Trade Agreement (MAFTA)

0 200 400 600 800 1,000 1,200

RM mil.

Malaysia-Turkey Free Trade Agreement (MTFTA)

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Malaysian Ringgit Exchange Rate with Selected Countries, January 2019 - August 2020

US Dollar

Pakistani Rupee

Egyptian Pound

Cambodian Riel

Nepalese Rupee

United Arab Emirates Dirham

4.1161 4.0746

4.3553

4.1907

4.06 4.11 4.16 4.21 4.26 4.31 4.36 4.41

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

2019 2020

RM

USD 1 = RM

2.9433

2.4913

2.40 2.50 2.60 2.70 2.80 2.90 3.00

2019 2020

RM

PKR 100 = RM

0.2304

0.2764

0.2628

0.22 0.23 0.24 0.25 0.26 0.27 0.28

2019 2020

RM

EGP 1 = RM

0.1030

0.1007 0.1078

0.1026

0.100 0.101 0.102 0.103 0.104 0.105 0.106 0.107 0.108 0.109

2019 2020

RM

KHR 100 = RM

3.6387

3.7468

3.5040

3.40 3.45 3.50 3.55 3.60 3.65 3.70 3.75 3.80

2019 2020

RM

NPR 100 = RM

112.0584 110.9290

118.5729

114.0889

110.5 111.5 112.5 113.5 114.5 115.5 116.5 117.5 118.5 119.5

2019 2020

RM

AED 100 = RM

Source : Bank Negara Malaysia

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Commodity Prices

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.

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

3.4%*

US$300.0 (low)

3.2%*

US$320.0 (high)

25 Sep 2020

0.7%*

US$52.4

0.5%*

US$1,637.3 RUBBER SMR 20 -per MT-

2.3%*

US$1,406.0

COCOA SMC 2 -per MT-

COAL -per MT-

SUGAR -per lbs-

1.0%*

US$13.5

SCRAP IRON HMS -per MT-

Average Price 2019 ⁱ: US$1,414.6 Average Price 2019 ⁱ: US$1,592.4 Average Price 2019 ⁱ: US

¢

12.4

Average Price 2019 ⁱ: US$316.9 (high) Average Price 2019 ⁱ: US$291.6(low) Average Price 2019 ⁱ: US$56.5

Domestic Prices

25 Sep 2020

Steel Bars

(per MT)

RM2,100 – RM2,200

Billets

(per MT) RM1,900- RM1,950

25 Sep 2020 25 Sep 2020 25 Sep 2020

25 Sep 2020

2.9%*

US$41.9 CRUDE PETROLEUM (BRENT) -per bbl-

25 Sep 2020

CRUDE PALM OIL -per MT-

6.6%*

US$690.8

25 Sep 2020

17 May 2019 : US$72.2

Highest

2019/2020

03 Jan 2020 : US$68.6

24 Apr 2020 : US$21.4 09 Aug 2019 : US$54.5

Lowest 2019/2020

27 Dec 2019 : US$794.5

Highest

2019/2020

10 Jan 2020 : US$761.9

8 May 2020 : US$473.0 26 Jul 2019 : US$488.5

Lowest 2019/2020 Average Price 2019 ⁱ: US$64.2 Average Price 2019 ⁱ: US$557.1

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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.

1,271.1 1,247.2 1,260.4

1,349.4 1,554.5

1,481.3 1,484.3 1,491.2 1,621.5

1,569.8 1,629.3

1,637.3

1,200 1,250 1,300 1,350 1,400 1,450 1,500 1,550 1,600 1,650 1,700

10 Jul 17 Jul 24 Jul 30 Jul 7 Aug 14 Aug 21 Aug 28 Aug 4 Sep 11 Sep 18 Sep 25 Sep 2020

US$/mt

Cocoa

1,191.01,183.5 1,198.5

1,256.5 1,323.5

1,301.5 1,320.5

1,356.0 1,357.5

1,341.5 1,374.0

1,406.0

1,090 1,140 1,190 1,240 1,290 1,340 1,390 1,440

US$/mt

Rubber SMR 20

40.6 40.6 41.3

39.9 41.2

42.0 42.3 43.0

39.8

37.3 41.1

40.3 43.2 43.1 43.3

42.9

44.4 44.8 44.4 45.1

42.7

39.8 43.2

41.9

34 36 38 40 42 44 46 48

US$/bbl

Crude Petroleum

Crude Petroleum (WTI)/bbl Crude Petroleum (Brent)/bbl 11.8

11.7 11.5

12.5 12.7

13.1 12.8

12.6

11.9 12.6

13.4 13.5

11.0 11.5 12.0 12.5 13.0 13.5 14.0

US¢/lbs

Sugar

573.0 616.0

655.4

641.0 679.8

662.5666.9 676.6 703.2

691.7 739.8

690.8

500 550 600 650 700 750 800

US$/mt

Crude Palm Oil

2,194

2,270 2,273 2,362

2,387 2,3842,399 2,400 2,416 2,410 2,427 2,404

2,150.0 2,200.0 2,250.0 2,300.0 2,350.0 2,400.0 2,450.0

US$/mt

Pepper

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19.1 19.8

22.9 23.4

27.5

26.1 26.7

27.6 26.7 26.9

27.1

23.1

18.0 20.0 22.0 24.0 26.0 28.0 30.0

US$/oz

Silver

58.0 58.1 61.2

62.9 65.3

62.5 61.9

62.9 61.9

62.6 62.7

59.8

56.0 57.0 58.0 59.0 60.0 61.0 62.0 63.0 64.0 65.0 66.0

US$/g

Gold

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.

2,082 2,052 2,026 2,030

1,939 1,920 1,854 1,863 1,871 1,845 1,781 1,756 1,

797 1,741 1,754 1,726 1,775 1,771 1,773 1,688 1,611 1,460 1,466 1,569 1,644 1,737

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

Jul Aug Sep Oct Nov Dec

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

Jan Feb Mar Apr May Jun Jul Aug

2018 2019 2020

US$/ tonne

Aluminium

6,251 6,051 6,051 6,220 6,196 6,075 5,939 6,300 6,439 6,438 6,018 5,882 5,941 5,709 5,759 5,757 5,860 6,077 6,031 5,688 5,183 5,058 5,240 5,755 6,372 6,499

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

Jul Aug Sep Oct

Nov Dec

Jan Feb Mar Apr May Jun Jul Aug Sep Oct

Nov Dec

2018 2019 2020

US$/ tonne

Copper

13,794 13,411 12,510 12,315 11,240 10,835 11,523 12,685 13,026 12,773 12,016 11,944 13,546 15,749 17,657 17,046 15,172 13,829 13,507 12,716 11,846 11,804 12,180 12,

727 13,

402 14,538

7,000 9,000 11,000 13,000 15,000 17,000 19,000

Jul Aug Sep Oct

Nov Dec

Jan Feb Mar Apr May Jun Jul Aug Sep Oct

Nov Dec

2018 2019 2020

US$/ tonne

Nickel

Commodity Price Trends

64.56 67.15 68.44 73.41 73.26 69.15 76.16 88.22 86.47 93.70 100.15 108.94120.24 93.07 93.08 88.53 84.98 92.65 95.76 87.68 88.99 84.73 93.65 103.30 108.52 121.07 50.0

60.0 70.0 80.0 90.0 100.0 110.0 120.0 130.0

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

2018 2019 2020

US$/dmtu

Iron Ore

845.9 849.6 956.0

912.6 970.4

959.1

926.1 940.0

898.2 939.6 938.5

842.0

800.0 820.0 840.0 860.0 880.0 900.0 920.0 940.0 960.0 980.0 1,000.0

US$/oz

Platinum

270.0 285.0 285.0

300.0

310.0 310.0 310.0 310.0 310.0 310.0 310.0 320.0

240.0 255.0 255.0

270.0

290.0 290.0 290.0 290.0 290.0 290.0 290.0 300.0

230 240 250 260 270 280 290 300 310 320 330

US$/mt

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

48.7 49.3

49.6 49.9

50.8

49.3 48.7

49.0 51.4 51.7

52.0 52.4

47 48 49 50 51 52 53

US$/t

Coal

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Announcements We are doing things differently in today's world. MITI, through our agency,

MATRADE HQ, is organising a virtual exhibition, the first-of-its-kind in

Malaysia, called #MyAPEC2020 Exhibition, in conjunction with Malaysia

hosting the @APEC 2020. The virtual exhibition, scheduled for Sept 1

to Dec 31, will showcase products and services from Malaysia and other

APEC - Asia-Pacific Economic Cooperation member economies. The

virtual exhibition is a great platform for APEC economies to expand their

outreach and can be accessed through myapec2020.matrade.gov.my or

the APEC portal and Matrade website.

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For more information, kindly click the following links:

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Announcements

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Dear Readers,

Kindly click the link below for any comments in this issue. MWB reserves the right to edit and republish letters as reprints.

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Media R elease - MITI

Weekly

Weekly BULLETIN BULLETIN

VOLUME 605 VOLUME 605

Media R elease

TRADE PERFORMANCE FOR AUGUST 2020 AND THE PERIOD OF JANUARY-AUGUST 2020

Media R elease

Media R elease

Mala ysia Sta tistics

Interna tional R e por t

A big public investment push with effective international support and coordination could double the global growth rate over the next decade along with improved debt sustainability and a fairer distribution of income

ADOPT AUSTERITY

If no other shock or contractionary forces surface, a global growth around 4%

next year should be possible. That will take the world to what some are calling the

“90% economy” (see Figure 1) which, in the absence of serious reform, will not only be smaller than before but more fragile, more unequal and less innovative.

Much of the discomfort

comes from the ongoing

disconnect between the

financial and real sectors

of the economy (see Figure

2), which carries the threat

of a policy reversal after

disaster relief ends.

Interna tional Mer chandise T rade

World largest exporter of gloves, mittens and mitts, World largest exporter of gloves, mittens and mitts,

of vulcanised rubber (excluding surgical gloves) of vulcanised rubber (excluding surgical gloves)**

1

4 2

3 5

MALAYSIA US$ 3.8b

58.3%

THAILAND US$ 0.9b

14.2%

INDONESIA US$ 0.3b

3.9%

BELGIUM US$ 0.3b

3.4%

P.R.CHINA US$ 0.4b

6.4% In 2019, Malaysia’s export of gloves, mittens and mitts, of vulcanised rub- ber (excluding surgi- cal gloves) recorded US$3.8 billion with 58.3% share to the world exports

Top Five Malaysia Export Destinations Top Five Malaysia Export Destinations

United States US$ 1,404.8m

1

2 5

4 3

P.R.China US$145.5m United Kingdom US$166.8m

Japan

US$ 244.5m Germany US$275.6m

Sources: https://www.trademap.org/index.aspx

Note: *HS401519

Number and FOB Value of PCO as at 13 September 2020 Weekly / Monthly/ Annually

Number and FOB Value of PCO as at 20 September 2020 Weekly / Monthly/ Annually

Weekly

Annually

Monthly

Sale s V alu e

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 2019 - August 2020

US Dollar

Pakistani Rupee

Egyptian Pound

Cambodian Riel

Nepalese Rupee

United Arab Emirates Dirham

Commodity Prices

3.4%*

US$300.0 (low)

3.2%*

US$320.0 (high)

25 Sep 2020

0.7%*

US$52.4

0.5%*

US$1,637.3 RUBBER SMR 20 -per MT-

2.3%*

US$1,406.0

COCOA SMC 2 -per MT-

COAL -per MT-

SUGAR -per lbs-

1.0%*

Weekly ^BULLETIN ^BULLETIN