Overview

KEY FACTS :

• On a year-on-year (y-o-y) basis, exports increased RM3.5 billion (+4.7%) to RM79.3 billion. Re-exports in December 2017 was valued at RM12.1 billion and accounted for 15.3% of total exports. Domestic exports grew 4.5% (+RM2.9 billion) to RM67.2 billion.  
• On a y-o-y basis, imports expanded 7.9% or RM 5.2 billion to RM72.1 billion.          
• On a month-on-month (m-o-m) basis, exports decreased RM4.2 billion (-5.0%) from RM83.5 billion. In seasonally adjusted terms, exports decreased 8.2%.
• On a m-o-m basis, imports declined RM1.5 billion (-2.0%) from RM73.6 billion. In seasonally adjusted terms, imports dropped 9.8%.
• On a y-o-y basis, export growth was supported by expansion in exports to Hong Kong (+RM1.6 billion), China (+RM1.3 billion), European Union (+RM853.0 million), Viet Nam (+RM589.7 million) and Republic of Korea (+RM512.5 million).
• On a y-o-y basis, higher imports were mainly from European Union (+RM2.6 billion), Singapore (+RM1.6 billion), Taiwan (+RM668.1 million), India (+RM519.9 million) and Saudi Arabia (+RM447.0 million).  
• In January - December 2017, total exports registered an increase of 18.9% or RM148.4 billion to RM935.4 billion. Meanwhile, total imports also posted an increase of RM139.3 billion (+19.9%) to RM838.1 billion.

TRADE

Total trade which was valued at RM151.4 billion grew RM8.8 billion or 6.2% from a year ago. However, it posted a decrease of RM5.7 billion or 3.6% when compared to the previous month. The trade surplus for December 2017 was RM7.3 billion and recorded a decrease of RM1.7 billion (-19.1%) from a year ago. It also declined RM2.7 billion or 27.2% when compared to the previous month.

EXPORTS

On a y-o-y basis, exports increased 4.7% from RM75.8 billion. The main products contributing to the increase were:

• Electrical and electronic (E&E) products (36.2% of total exports), increased RM1.7 billion (+6.2%) to RM28.7 billion;
• Liquefied natural gas (LNG), which contributed 5.1% to total exports, grew RM188.2 million or 4.8% to RM4.1 billion due to the increase in export volume (+6.5%) although average unit value dropped 1.5%; and
• Crude petroleum, which contributed 3.4% to total exports, rose RM174.4 million or 6.9% to RM2.7 billion due to the increase in average unit value (+17.0%) although export volume declined 8.7%.

However, declines were recorded for the following products:

• Refined petroleum products, which accounted for 5.8% of total exports, shrank RM306.5 million or 6.2% to RM4.6 billion due to the decrease in export volume (-14.5%) as average unit value increased 9.7%;
• Timber and timber-based products, which accounted for 2.3% of total exports, reduced RM238.1 million or 11.4% to RM1.8 billion;
• Natural rubber (0.4% of total exports) decreased RM104.4 million or 24.4% to RM322.5 million due to the decline in both export volume (-15.3%) and average unit value (-10.8%); and
• Palm oil and palm oil-based products (8.0% of total exports), recorded a decline of RM24.7 million (-0.4%) to RM6.4 billion. Exports of palm oil, the major commodity in this group of products dropped RM400.2 million or 10.9% due to the decrease in average unit value (-11.3%) although export volume grew 0.4%.

On a m-o-m basis, exports decreased RM4.2 billion (-5.0%) from RM83.5 billion. The main products which contributed to the decline were:

• E&E products dropped RM3.0 billion or 9.4% from RM31.7 billion;
• Palm oil and palm oil-based products shrank RM446.9 million or 6.6% from RM6.8 billion. Exports of palm oil fell RM719.9 million (-18.0%) due to the decrease in both export volume (-15.3%) and average unit value (-3.3%); and
• Timber and timber-based products declined RM268.0 million or 12.7% from RM2.1 billion.

Nevertheless, the following products increased:

• LNG rose RM601.8 million or 17.3% from RM3.5 billion due to the increase in both export volume (+10.8%) and average unit value (+5.9%);
• Crude petroleum grew RM278.1 million or 11.4% from RM2.4 billion due to the increase in both average unit value (+6.2%) and export volume (+4.9%);
• Refined petroleum products increased RM233.7 million or 5.3% from RM4.4 billion due to the growth in both export volume (+3.6%) and average unit value (+1.7%); and
• Natural rubber went up RM9.2 million or 2.9% from RM313.3 million due to the increase in export volume of 9.3% as average unit value fell 5.8%.

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, exports reduced by RM6.6 billion (-8.2%) to RM74.6 billion.

Exports, 2013-2017

IMPORTS

On a y-o-y basis, imports increased 7.9% from RM66.8 billion. This growth was contributed by imports of capital goods.

• Capital Goods

Imports of capital goods, which accounted for 16.9% of total imports, increased RM3.2 billion (+35.2%) to RM12.2 billion due to the increase in both transport equipment, industrial (+RM3.0 billion, +534.3%) and capital goods (except transport equipment) (+RM225.0 million, +2.7%).

• Intermediate Goods

These goods which constituted 53.0% of total imports dropped RM256.8 million (-0.7%) to RM38.2 billion. The decrease was mainly attributed to industrial supplies, processed (-RM740.2 million, -4.8%), food & beverages, processed, mainly for industries (-RM311.2 million, -26.8%), and parts & accessories of capital  goods  (except  transport  equipment)  (-RM205.9 million, -1.4%).

• Consumption Goods

Imports of consumption goods which accounted for 8.6% of total imports recorded a decrease of RM162.8 million (-2.6%) to RM6.2 billion. The decline was mainly attributed  to  food & beverages,  primary,  mainly  for  household  consumption  (-RM118.5 million, -12.5%) and semi-durables (-RM60.2 million, -4.2%).

On a m-o-m basis, imports dropped RM1.5 billion or 2.0% from RM73.6 billion. The reduction in imports was contributed by intermediate goods and consumption goods.

• Intermediate Goods

These goods decreased RM2.2 billion (-5.4%) from RM40.4 billion. The main components attributing to the decline were industrial supplies, processed (-RM1.3 billion, -8.0%) and parts & accessories of capital goods (except transport equipment) (-RM521.2 million, -3.6%).

• Consumption Goods

Imports of consumption goods declined RM331.5 million (-5.1%) from RM6.6 billion. The decrease was due to food & beverages, processed, mainly for household consumption (-RM115.3 million, -6.3%) and non-durables (-RM111.2 million, -7.4%).

• Capital Goods

Imports of capital goods surged RM1.9 billion or 18.5% from RM10.3 billion due to the increase in transport equipment, industrial (+RM3.0 billion, +669.8%). However, capital goods (except transport equipment) dropped RM1.1 billion or 11.6%.

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, imports fell RM7.5 billion (-9.8%) to RM69.0 billion.

Imports, 2013-2017

MARKET SHARE

 The following charts show Malaysia's major trading partners for January- December 2017

              Total Trade by Major Countries, Jan- Dec 2017, percentage share

Exports and Imports by Major Countries, Jan- Dec 2017, percentage share

The following charts show Malaysia's trade with ASEAN countries for January - December 2017

 Exports, Jan - Dec 2017, percentage share

Imports, Jan- Dec 2017, percentage share

Notes:

# The December 2017 data is provisional and subject to revision in later issues.

Released By:

THE OFFICE OF CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
07 FEBRUARY 2018

Contact person:
Ho Mei Kei
Public Relation Officer
Strategic Communication and International Division
Department of Statistics, Malaysia
Tel : +603-8885 7942
Fax : +603-8888 9248
Email : mkho[at]stats.gov.my

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