Overview

KEY FACTS :

• On a year-on-year (y-o-y) basis, exports decreased RM1.8 billion (-2.8%) to RM61.9 billion.
• On a y-o-y basis, imports rose RM1.8 billion (+3.3%) to RM56.5 billion.
• On a m-o-m basis, exports also fell RM6.4 billion (-9.4%) from RM68.3 billion. In seasonally adjusted terms, exports decreased 7.4%.
• On a month-on-month (m-o-m) basis, imports declined RM3.6 billion (-6.0%) from RM60.1 billion.  In seasonally adjusted terms, imports decreased 3.2%.
• On a y-o-y basis, the decrease in exports was due to the decline in exports to Japan (-RM1.9 billion), Republic of Korea (-RM752.0 million), Taiwan (-RM512.6 million), Australia (-RM454.3 million) and Hong Kong (-RM346.8 million).
• On a y-o-y basis, the expansion in imports was attributed to higher imports from People’s Republic of China (+RM765.6 million), Singapore (+RM705.3 million), Switzerland (+RM392.6 million), Republic of Korea (+RM379.5 million), and India (+RM356.8 million).

TRADE

Total trade in January 2016, which was valued at RM118.3 billion, increased RM59.3 million (+0.1%), from a year ago. It posted a decline of RM10.0 billion or 7.8% from the previous month. A trade surplus of RM5.4 billion was recorded in January 2016, a decreased of 39.8% from RM9.0 billion registered a year ago. However, when compared with the previous month, it also posted a decrease of RM2.9 billion or 34.6%.

EXPORTS

On a y-o-y basis, exports declined 2.8% from RM63.6 billion. The main products which contributed to the decrease were:

• Liquefied Natural Gas (LNG), which contributed 5.2% to total exports dropped 48.2% or RM3.0 billion to RM3.2 billion due to the decrease in both average unit value (-41.0%) and export volume  (-12.2%);
• Crude petroleum which accounted for 2.7% of total exports, declined 38.2% to RM1.7 billion due to the decrease in both export volume (-22.6%) and average unit value (-20.1%);
• Refined petroleum products (4.5% of total exports), decreased RM666.5 million or 19.4% to RM2.8 billion due to lower average unit value (-22.0%) as export volume rose 3.4%; and
• Natural rubber which contributed 0.5% to total exports, declined 24.9% or RM93.9 million to RM283.0 million due to the decrease in export volume (-25.9%) as average unit value increased 1.3%.

However, the following products increased in export value.

• Electrical and electronic (E&E) products, which accounted for 36.1% of total exports, increased RM566.0 million (+2.6%) to RM22.4 billion;
• Palm oil and palm-based products, which contributed 7.8% to total exports, increased RM263.5 million (+5.8%) to RM4.8 billion. Exports of palm oil, the major commodity in this group of products rose 6.2% or RM172.7 million due to the rise in export volume (+24.1%) as average unit value decreased 14.5%; and
• Timber & timber-based products (3.3% of total exports), increased RM221.3 million (+12.2%) to RM2.0 billion;
   

  Exports, 2012-2016

On a m-o-m basis, exports decreased 9.4% to RM61.9 billion. The main products which contributed to the decrease were:

• Electrical & electronic products, fell RM2.5 billion (-9.9%) from RM24.8 billion;
• LNG, shrank by RM595.0 million or 15.7% from RM3.8 billion due to the decrease in both export volume (-8.6%) and average unit value (-7.7%);
• Crude petroleum, declined RM471.6 million (-21.9%) from RM2.2 billion due to lower average unit value (-15.1%) and export volume (-8.0%);
• Palm oil and palm-based products, decreased RM308.4 million (-6.0%) from RM5.1 billion. Exports of palm oil, the major commodity in this group of products also fell 7.6% or RM244.6 million mainly due to lower average unit value (-10.6%) as export volume rose 3.4%;
• Refined petroleum products, fell RM60.6 million or 2.1% from RM2.8 billion due to the decline in average unit value (-8.9%) as export volume rose 7.4%; and
• Natural rubber, also declined RM24.0 million or 7.8% due to the decline in both export volume (-4.9%) and average unit value (-3.1%).

However, timber & timber-based products increased RM54.8 million (+2.8%) from RM2.0 billion.

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, exports decreased RM4.9 billion (-7.4%) to RM62.1 billion.

IMPORTS

On a y-o-y basis, imports rose 3.3% from RM54.6 billion. The increase in imports was attributed to intermediate goods and consumption goods.

• Intermediate Goods

Imports of these goods which contributed 61.5% of total imports, expanded RM1.7 billion (+5.1%) to RM34.7 billion. The main components that contributed to the increase were parts & accessories of capital goods (except transport equipment) (+RM1.6 billion, +13.9%), fuel & lubricant, processed, others (+RM655.2 million, +108.4%) and parts & accessories of transport equipment (+RM402.3 million, +21.8%).

• Consumption Goods

These goods which constituted 10.3% of total imports, increased RM1.5 billion (+33.1%) to RM5.8 billion. The increase was contributed by semi-durables (+RM590.7 million, +76.0%), food & beverages, processed, mainly for household consumption (+RM284.7 million, +23.5%), food & beverages, primary, mainly for household consumption (+RM254.5 million, +34.2%), and non-durables (+RM210.8 million, +21.0%).

• Capital Goods

Imports of capital goods, which accounted for 12.6% of total imports, declined RM1.1 billion (-13.2%) to RM7.1 billion and this was due to the decrease in both transport equipment, industrial (-RM837.5 million, -70.4%) and capital goods (except transport equipment) (-RM243.5 million, -3.5%).

Imports, 2012-2016

On a m-o-m basis, imports decreased 6.0% to RM56.5 billion. The decline was attributed to lower imports of capital goods, consumption goods and intermediate goods.

• Capital Goods

Imports of capital goods fell RM927.4 million (-11.5%) from RM8.0 billion due to the decrease in both capital goods (except for transport equipment (-RM656.3 million, -8.9%) and transport equipment, industrial (-RM271.1 million, -43.5%).

• Consumption Goods

Imports of consumption goods shrank by RM459.3 million (-7.3%) fromRM6.3 billion. The main component contributing to the decrease was food & beverages, processed, mainly for household consumption(-RM213.1 million, -12.5%), non-durables (-RM165.2 million, -12.0%) and semi-durables (-RM118.8 million, -8.0%).

• Intermediate Goods

Imports of intermediate goods declined RM402.0 million (-1.1%) from RM35.1 billion. The decrease were mainly attributed to food & beverages, processed, mainly for industries (-RM444.1 million, -31.2%) and fuel & lubricants, processed, others (-RM258.9 million, -17.1%).

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, imports fell RM1.9 billion (-3.2%) to RM57.0 billion.

MARKET SHARE

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

Total Trade by Major Countries, January 2016, percentage share  

Exports and Imports by Major Countries, January 2016, percentage share

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

Exports, January 2016, percentage share

Imports, January 2016, percentage share

Notes:

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

Released By:

THE OFFICE OF CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
04 MARCH 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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