Overview

KEY FACTS :

• On a year-on-year (y-o-y) basis, exports increased RM3.6 billion (+6.7%) to RM56.7 billion.
• On a y-o-y basis, imports rose RM754.5 million (+1.6%) to RM49.4 billion.
• On a month-on-month (m-o-m) basis, exports fell RM5.1 billion (-8.3%) from RM61.9 billion. In seasonally adjusted terms, exports increased 0.5%.
• On a m-o-m basis, imports declined RM7.1 billion (-12.6%) from RM56.5 billion. In seasonally adjusted terms, imports increased 1.1%.
• On a y-o-y basis, the increase exports were mainly to the United States of America (+RM1.0 billion), People’s Republic of China (+RM696.8 million), the European Union (+RM614.9 million), Republic of Korea (+RM424.9 million) and Indonesia (+RM421.7 million).
• On a y-o-y basis, higher imports were mainly from the United States of America (+RM1.2 billion), Thailand (+RM455.4 million), Japan (+RM386.3 million) and Republic of Korea (+RM212.4 million).

TRADE

Total trade in February 2016, which was valued at RM106.1 billion, increased RM4.3 billion (+4.2%) from a year ago. It posted a decline of RM12.0 billion or 10.3% from the previous month. A trade surplus of RM7.4 billion was recorded in February 2016, increasing 61.4% from the RM4.6 billion registered a year ago. It also posted an increase of RM2.0 billion or 36.3% when compared with the previous month.

EXPORTS

On a y-o-y basis, exports rose 6.7% from RM53.2 billion. The main products which contributed to the increase were:

• Electrical and electronic (E&E) products, which accounted for 35.4% of total exports, increased RM1.6 billion (+8.9%) to RM20.1 billion;
• Palm oil and palm-based products, which contributed 7.5% to total exports, increased RM309.9 million (+7.8%) to RM4.3 billion. Exports of palm oil, the major commodity in this group of products rose 4.4% or RM104.0 million due to the rise in export volume (+6.4%) as average unit value decreased 1.9%; and
• Timber & timber-based products, which accounted for 2.8% of total exports, increased RM233.5 million (+17.4%) to RM1.6 billion.

 However, the following commodities decreased in export value.

• Liquefied Natural Gas (LNG) which contributed 5.7% to total exports dropped 34.0% or RM1.7 billion to RM3.2 billion due to the decrease in average unit value (-39.7%) as export volume increased (+9.4%);
• Crude petroleum which accounted for 2.8% of total exports, declined 14.1% to RM1.6 billion due to the decrease in average unit value (-25.5%) as export volume increased (+15.4 %);
• Refined petroleum products (5.5% of total exports), decreased RM228.9 million or 6.8% to RM3.1 billion due to lower average unit value (-10.9%) as export volume rose (+4.6%); and
• Natural rubber which contributed 0.5% to total exports, declined 9.9% or RM29.9 million to RM272.7 million due to the decrease in both export volume (-5.7%) and average unit value (-4.5%).

Exports, 2012-2016

On a m-o-m basis, exports decreased 8.3% to RM56.7 billion. The main commodities which contributed to the decrease were:

• E&E products, fell RM2.3 billion (-10.2%) from RM22.4 billion;
• Palm oil and palm-based products, decreased RM552.4 million (-11.4%) from RM4.8 billion. Exports of palm oil, the major commodity in this group of products also fell 17.0% or RM505.3 million due to the decrease in export volume (-17.6%) as average unit value rose 0.8%;
• Timber & timber-based products decreased RM460.0 million (-22.6%) from RM2.0 billion;
• Crude petroleum, declined RM106.7 million (-6.4%) from RM1.7 billion due to the decrease in average unit value (-9.8%) as export volume rose 3.8%; and
• Natural rubber, declined RM10.4 million or 3.7% from RM283.0 million due to the lower average unit value (-5.8%) as export volume increased 2.2%. 

However, the following products showed an increase in export value:

• Refined petroleum products, rose RM357.2 million or 12.9% from RM2.8 billion due to the increase in both export volume rose (+11.3%) and average unit value (+1.5%); and
• Liquefied natural gas (LNG), increased RM12.1 million or 0.4% from RM3.2 billion due to the increase in export volume (+2.3%) as the average unit value decreased 1.9%.

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, exports increased RM316.9 million (+0.5%) to RM62.4 billion.

IMPORTS

On a y-o-y basis, imports rose 1.6% from RM48.6 billion. The increase in imports was attributed to consumption goods and capital goods.

• Consumption Goods

These goods which constituted 9.3% of total imports increased RM696.7 million (+17.9%) to RM4.6 billion. The increase was contributed by semi-durables (+RM336.6 million, +66.6%), food & beverages, processed, mainly for household consumption (+RM184.9 million, +16.7%), non-durables (+RM150.3 million, +14.9%) and durables (+RM48.2 million, +8.8%).

• Capital Goods

Imports of capital goods, which accounted for 14.2% of total imports, increased RM117.8 million (+1.7%) to RM7.0 billion and this was due to the increase in both capital goods (except transport equipment) (+RM96.5 million, +1.6%) and transport equipment, industrial (+RM21.3 million, +2.1%). 

• Intermediate Goods

Imports of these goods which contributed 55.5% of total imports, declined RM1.9 billion (-6.6%) to RM27.4 billion. The main components that contributed to the decrease were fuel & lubricants, processed, others (-RM2.4 billion, -98.0%) and industrial supplies, primary (-RM473.7 million, -31.4%).

Imports, 2012-2016

On a m-o-m basis, imports decreased 12.6% to RM49.4 billion. The decline was attributed to lower imports of intermediate goods, consumption goods and capital goods.

• Intermediate Goods

Imports of intermediate goods declined RM7.3 billion (-21.1%) from RM34.7 billion. The decrease were mainly attributed to industrial supplies, processed (-RM2.9 billion, -21.5%), parts & accessories of capital goods (except transport equipment) (-RM2.2 billion, -16.1%), fuel & lubricants, processed, others (-RM1.2 billion, -96.0%), industrial supplies, primary (-RM651.0 million, -38.7%) and parts & accessories of transport equipment (-RM301.6 million, -13.4%).

• Consumption Goods

Imports of consumption goods shrank by RM1.2 billion (-21.2%) from RM5.8 billion. The main components contributing to the decrease were semi-durables (-RM526.0 million, -38.5%), food & beverages, primary, mainly for household consumption (-RM375.0 million, -37.6%), and food & beverages, processed, mainly for household consumption (-RM202.7 million, -13.6%).

• Capital Goods

Imports of capital goods fell RM112.6 million (-1.6%) from RM7.1 billion due to the decrease in both capitals good (except for transport equipment) (-RM800.1 million, -11.8%). However transport equipment, industrial increased (+RM687.5 million, +195.5%).

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, imports rose RM645.3 million (+1.1%) to RM57.7 billion.

MARKET SHARE

The following charts show Malaysia's major trading partners for  January - February 2016.

Total Trade by Major Countries, Jan - Feb 2016, percentage share  

Exports and Imports by Major Countries, Jan - Feb 2016, percentage share

The following charts show Malaysia’s trade with ASEAN countries for January - February 2016.

Exports, Jan - Feb 2016, percentage share

Imports, Jan - Feb 2016, percentage share

Notes:

# The February 2016 data is provisional and subject to revision in later issues.

Released By:

THE OFFICE OF CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
06 APRIL 2016

Contact person:
Ho Mei Kei
Public Relation Officer
Corporate and User Services Division
Department of Statistics, Malaysia
Tel : +603-8885 7942
Fax : +603-8888 9248
Email : mkho@stats.gov.my

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