Overview

KEY FACTS :

• On a year-on-year (y-o-y) basis, exports registered a double-digit growth of 17.9% (+RM12.6 billion) to RM82.9 billion. Re-exports in January 2018 was valued at RM17.4 billion and accounted for 21.0% of total exports. Domestic exports grew RM5.6 billion (+9.3%) to RM65.5 billion.  
• On a y-o-y basis, imports was also in a similar trend increasing by RM7.6 billion (+11.6%) to RM73.2 billion.          
• On a month-on-month (m-o-m) basis, exports expanded RM3.5 billion (+4.4%) from RM79.3 billion. In seasonally adjusted terms, exports increased 12.5%.
• On a m-o-m basis, imports also rose RM1.1 billion (+1.5%) from RM72.1 billion. In seasonally adjusted terms, imports increased 5.0%.
• On a y-o-y basis, exports increased due to higher exports to Hong Kong (+RM3.9 billion), China (+RM1.5 billion), Viet Nam (+RM1.2 billion), European Union (+RM1.0 billion), Singapore (+RM903.9 million) and the Republic of Korea (+RM870.3 million).
• On a y-o-y basis, higher imports were mainly from Singapore (+RM2.6 billion), European Union (+RM1.6 billion), India (+RM861.6 million), Taiwan (+RM548.3 million), China (+RM459.2 million) and Thailand (+RM431.7 million).

TRADE

Total trade was valued at RM156.0 billion, an expansion of RM20.2 billion or 14.9% from a year ago. It also posted an increase of RM4.6 billion or 3.0% when compared to the previous month. A trade surplus of RM9.7 billion was recorded in January 2018, rising RM5.0 billion (+104.8%) from RM4.7 billion registered a year ago. When compared to the previous month, it expanded RM2.5 billion or 33.9%.

EXPORTS

On a y-o-y basis, exports expanded 17.9% from RM70.3 billion. The main products which contributed to the increase were:

• Electrical and electronic (E&E) products (38.2% of total exports), increased RM6.8 billion (+27.1%) to RM31.7 billion;
• Palm oil and palm oil-based products (7.9% of total exports), recorded an increase of RM620.4 million (+10.4%) to RM6.6 billion. Exports of palm oil, the major commodity in this group of products rose RM359.0 million or 10.1% due to the increase in export volume of 35.9% as average unit value decreased 19.0%;
• Liquefied natural gas (LNG) (4.5% of total exports), rose RM460.0 million or 14.0% to RM3.8 billion due to the increase in both export volume (+10.2%) and average unit value (+3.4%);
• Refined petroleum products, which accounted for 6.4% of total exports, grew RM106.2 million or 2.1% to RM5.3 billion due to the increase in average unit value (+2.5%) as export volume decreased 0.4%;
• Timber and timber-based products, which contributed 2.4% of total exports, went up RM49.7 million or 2.6% to RM2.0 billion; and
• Crude petroleum (3.0% of total exports), increased RM2.5 million or 0.1% to RM2.5 billion due to the 13.1% increase in average unit value as export volume decreased 11.5%.

However, exports of natural rubber, which contributed 0.4% to total exports, registered a decrease of RM102.3 million or 26.0% to RM291.4 million due to the decline in both average unit value (-20.5%) and export volume (-6.9%).

On a m-o-m basis, exports grew RM3.5 billion (+4.4%) from RM79.3 billion. The main products which contributed to the increase were:

• E&E products went up RM2.9 billion or 10.2% from RM28.7 billion;
• Refined petroleum products expanded RM641.7 million or 13.9% from RM4.6 billion due to the increase in both export volume (+10.3%) and average unit value (+3.2%);
• Palm oil and palm oil-based products increased RM206.5 million or 3.2% from RM6.4 billion. Exports of palm oil rose RM645.8 million (+19.8%) due to the increase in export volume of 25.1% as average unit value decreased 4.3%; and
• Timber and timber-based products grew RM138.4 million or 7.5% from RM1.8 billion.

However, declines were recorded for the following products:

• LNG shrank RM324.0 million or 7.9% from RM4.1 billion due to the decrease in both export volume (-7.7%) and average unit value (-0.3%);
• Crude petroleum decreased RM221.9 million or 8.2% from RM2.7 billion due to the decrease in export volume  of 10.7% as average unit value increased 2.8%; and
• Natural rubber fell RM31.1 million or 9.6% from RM322.5 million due to the decline in export volume (-9.7%) as average unit value increased 0.1%.
   

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, exports increased RM9.4 billion  (+12.5%) to RM84.9 billion.

Exports, 2014-2018

IMPORTS

 On a y-o-y basis, imports expanded 11.6% from RM65.5 billion. This expansion was attributed to higher imports of consumption goods.

•  Consumption Goods

Imports of consumption goods which accounted for 8.6% of total imports recorded an increase of RM563.1 million (+9.8%) to RM6.3 billion. The increase was mainly attributed to food & beverages, processed, mainly for household consumption (+RM192.3 million, +13.2%), non-durables (+RM145.4 million, +11.6%) and semi-durables (+RM131.7 million, +10.2%).

•  Intermediate Goods

These goods which constituted 51.6% of total imports declined RM644.1 million (-1.7%) to RM37.7 billion. The decrease was mainly attributed to parts & accessories of capital goods (except transport equipment) (-RM3.9 billion, -26.5%). However, imports of industrial supplies, processed expanded RM2.1 billion or 14.8%.

•  Capital Goods

Imports of these goods which represented 12.7% of total imports shrank RM294.9 million or 3.1% to RM9.3 billion due to the decrease in both transport equipment, industrial (-RM256.5 million , -21.7%) and capital goods (except transport equipment) (-RM38.4 million, -0.5%).

On a m-o-m basis, imports increased RM1.1 billion or 1.5% from RM72.1 billion. Consumption goods recorded a slight increase while capital goods and intermediate goods recorded a decline.

•  Consumption Goods

Imports of consumption goods rose RM80.8 million (+1.3%) fromRM6.2 billion. The increase was attributed to food & beverages, primary, mainly for household consumptions (+RM182.2 million, +22.0%) and semi-durables (+RM41.1 million, +3.0%). However, a decrease was recorded for durables (-RM121.5 million, -14.2%) and food & beverages, process, mainly for household consumptions (-RM58.8 million, -3.4%).

• Capital Goods

Imports of capital goods dropped RM2.8 billion or 23.0% from RM12.1 billion due to the decline in both transport equipment, industrial (-RM2.6 billion, -73.6%) and capital goods (except transport equipment)  (-RM206.5 million, -2.4%).

•  Intermediate Goods

These goods decreased RM591.2 million (-1.5%) from RM38.3 billion. The main components which registered significant decrease were parts & accessories of capital goods (except transport equipment) (-RM3.4 billion, -24.0%). However, imports of industrial supplies, processed and fuel & lubricants, processed, others increased RM1.7 billion (+11.6%) and RM476.5 million (+35.6%) respectively.

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, imports increased RM3.5 billion (+5.0%) to RM73.4 billion.

 Imports, 2014-2018

MARKET SHARE

The following charts show Malaysia's major trading partners for January 2018

                   Total Trade by Major Countries, Jan 2018, percentage share

Exports and Imports by Major Countries, Jan 2018, percentage share

The following charts show Malaysia’s trade with ASEAN countries for January 2018

 Exports, Jan 2018, percentage share

Imports, Jan 2018, percentage share

Notes:

# The January 2018 data is provisional and subject to revision in later issues.

Released By:

THE OFFICE OF CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
05 MARCH 2018

Contact person:
Ho Mei Kei
Public Relation Officer
Strategic Communication and International Division
Department of Statistics, Malaysia
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Email : mkho[at]stats.gov.my

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