Overview

KEY FACTS :

• On a year-on-year (y-o-y) basis, exports rose strongly by 13.6% or RM8.4 billion to RM70.2 billion. Of this value, 14.8% or RM10.4 billion was re-exports.
• On a y-o-y basis, imports also expanded by RM9.1 billion (+16.1%) to RM65.5 billion
• On a month-on-month (m-o-m) basis, exports decreased RM5.3 billion (-7.0%) from RM75.6 billion. In seasonally adjusted terms, exports fell 0.04%.
• On a m-o-m basis, imports also declined RM1.3 billion (-2.0%) from RM66.8 billion.  However, imports increased 2.8% in seasonally adjusted terms.
• On a y-o-y basis, exports increased due to the rise in exports to China (+RM2.1 billion), Singapore (+RM1.7 billion), Japan (+RM1.3 billion), Australia (+RM946.3 million) and European Union (+RM794.4 million).
• On a y-o-y basis, higher imports were mainly from China (+RM3.1 billion), United States (+RM1.3 billion), Taiwan (+RM1.1 billion), Indonesia (+RM1.1 billion) and United Arab Emirates (+RM793.4 million).

TRADE

Total trade in January 2017 was valued at RM135.8 billion, an expansion of RM17.5 billion or 14.8% from a year ago. However it posted a decline of RM6.6 billion or 4.6% when compared to the previous month. A lower trade surplus of RM4.7 billion was recorded when compared to the previous year (-12.6%) as well as the previous month (-46.0%).

EXPORTS

On a y-o-y basis, the RM8.4 billion or 13.6% increase in exports was mainly due to the rise of the following products:

• Electrical and electronic (E&E) products (35.4% of total exports), increased RM2.5 billion (+11.4%) to RM24.9 billion;
• Refined petroleum products, which accounted for 7.3% of total exports, surged RM2.4 billion or 85.8% to RM5.2 billion due to the increase in both export volume (+51.4%) and average unit value (+22.7%);
• Palm oil and palm oil-based products (8.5% of total exports), rose RM1.1 billion (+23.3%) to RM6.0 billion. Exports of palm oil, the major commodity in this group of products expanded by RM584.1 million or 19.7% due to the increase in average unit value (+40.2%) as export volume decreased 14.7%;
• Crude petroleum, which contributed 3.5% to total exports, grew RM807.8 million or 48.1% to RM2.5 billion mainly due to the increase in average unit value (+43.1%) and a small contribution from export volume (+3.5%);
• Natural rubber, which contributed 0.6% to total exports, increased RM110.7 million or 39.1% to RM393.7 million due to the increase in average unit value (+42.1%) as export volume decreased 2.1%; and
• Liquefied natural gas (LNG) (4.7% of total exports), increased RM90.0 million or 2.8% to RM3.3 billion due to the increase in export volume (+7.9%) as average unit value fell 4.7%.

However, the following product declined in export value:

• Timber and timber-based products, which accounted for 2.8% of total exports, decreased RM106.6 million or 5.2% to RM1.9 billion.
   

  Exports, 2013-2017

On a m-o-m basis, exports declined RM5.3 billion (-7.0%) from RM75.6 billion. The main products which contributed to the decline were:

• E&E products fell RM2.1 billion or 7.9% from RM27.0 billion;
• LNG dropped RM467.4 million or 12.4% from RM3.8 billion due to the decrease in export volume (-12.5%) as average unit value increased 0.1%;
• Palm oil and palm oil-based products declined RM440.2 million or 6.9% from RM6.4 billion. The decline was due to palm oil-based oleo chemical products (-RM221.4 million, -12.9%), which recorded a lower export volume (-15.4%) even though average unit value increased 3.0%.
• Timber and timber-based products decreased RM158.5 million or 7.5% from RM2.1 billion;
• Natural rubber fell RM33.2 million or 7.8% from RM426.9 million due to the decrease in export volume (-17.9%) as average unit value increased 12.3%; and
• Crude petroleum decreased RM5.8 million or 0.2% from RM2.5 billion due to the decrease in export volume (-6.1%) as average unit value rose 6.3%.

However, the following product recorded an increase:

• Refined petroleum products increased RM282.3 million or 5.8% from RM4.9 billion mainly due to the increase in average unit value (+10.4%) as export volume fell 4.2%.

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, exports decreased RM30.6 million (-0.04%) to RM71.2 billion.

IMPORTS

On a y-o-y basis, imports increased 16.1% from RM56.5 billion. The growth in imports was contributed by intermediate goods and capital goods.

• Intermediate Goods

These goods which constituted 58.5% of total imports increased RM3.6 billion (+10.4%) to RM38.4 billion. The growth was mainly attributed to parts & accessories of capital goods (except transport equipment) (+RM1.3 billion, +9.6%), fuel & lubricants, primary (+RM1.2 billion, +98.4%) and industrial supplies, processed (+RM787.6 million, +5.9%).

• Capital Goods

Imports of these goods which represented 14.7% of total imports grew RM2.5 billion or 35.2% to RM9.6 billion due to the increase in capital goods (except transport equipment) (+RM1.7 billion, +24.7%) and transport equipment, industrial (+RM831.3 million, +236.3%).

• Consumption Goods

Imports of consumption goods which accounted  for 8.8%  of  total  imports  recorded  a  small  decline of  RM95.9 million (-1.6%)  to RM5.7 billion.  The decrease was mainly attributed to semi-durables (-RM70.8 million, -5.2%) and food & beverages, processed, mainly for household consumption (-RM41.4 million, -2.8%).

Imports, 2013-2017

On a m-o-m basis, imports decreased RM1.3 billion or 2.0% from RM66.8 billion. The decline in imports was attributed to consumption goods and intermediate goods.

•  Consumption Goods

Imports  of  consumption goods  fell  RM642.2 million (-10.1%) from RM6.4 billion. The decrease was attributed to  food & beverages,  processed,  mainly  for household  consumption  (-RM201.2 million, -12.2%),  durables  (-RM157.9 million, -18.2%),  semi-durables  (-RM149.2 million, -10.3%) and  non-durables  (-RM141.4 million, -10.1%).

•  Intermediate Goods

These goods decreased RM151.7 million (-0.4%) from RM38.5 billion. The main components which decreased were industrial supplies, processed (-RM1.2 billion, -7.6%) and industrial supplies, primary (-RM434.4 million, -21.7%). However, increases were recorded for fuel & lubricants, primary (+RM620.6 million, +34.4%), fuel & lubricants, processed, other (+RM408.7 million, +41.9%) and parts & accessories of capital goods (except transport equipment) (+RM383.6 million, +2.7%).

•  Capital Goods

Imports of capital goods rose RM586.3 million or 6.5% from RM9.0 billion due to the increase in transport equipment, industrial (+RM630.7 million, +114.2%). However, imports of capital goods (except transport equipment) decreased RM44.4 million or 0.5% from RM8.5 billion.

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, imports increased RM1.8 billion (+2.8%) to RM65.8 billion.

MARKET SHARE

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

Total Trade by Major Countries, Jan 2017, percentage share  

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

The following charts show Malaysia’s trade with ASEAN countries for January 2017.

Exports, Jan 2017, percentage share

Imports, Jan 2017, percentage share

Notes:

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

Released By:

THE OFFICE OF CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
03 MARCH 2017

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[at]stats.gov.my

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