Overview

KEY FACTS :

• On a year-on-year (y-o-y) basis, exports continued to register a strong growth with increase of RM16.0 billion (+24.1%) to RM82.6 billion. Re-exports in March 2017 was valued at RM12.4 billion and accounted for 15.0% of total exports.     
• On a y-o-y basis, imports also recorded a strong increase of RM21.8 billion (+39.4%) to RM77.2 billion.          
• On a month-on-month (m-o-m) basis, exports rose RM10.8 billion (+15.1%) from RM71.8 billion. In seasonally adjusted terms, exports decreased 1.0%.
• On a m-o-m basis, imports grew RM14.2 billion (+22.5%) from RM63.1 billion. In seasonally adjusted terms, imports rose 6.8%.
• On a y-o-y basis, exports increased due to the higher exports to China (+RM3.1 billion), Singapore (+RM2.4 billion), European Union (+RM1.9 billion), United states (+RM1.1 billion) and Japan (+RM740.0 million).
• On a y-o-y basis, higher imports were mainly from China (+RM4.7 billion), United States (+RM4.3 billion), Republic of Korea (+RM1.8 billion), Singapore (+RM1.5 billion) and European Union (+RM1.4 billion).

TRADE

Total trade in March 2017 was valued at RM159.9 billion, an expansion of RM37.9 billion or 31.1% from a year ago. It also posted an increase of RM25.0 billion or 18.5% when compared to the previous month. A trade surplus of RM5.4 billion was recorded in March 2017, decreased RM5.8 billion (-51.7%) from the RM11.2 billion registered a year ago. It also dropped RM3.3 billion or 38.1% on a m-o-m basis.

EXPORTS

On a y-o-y basis, exports increased 24.1% to RM82.6 billion. The main products which contributed to the increase were:

• Electrical and electronic (E&E) products (35.4% of total exports), increased RM5.1 billion (+21.2%) to RM29.3 billion;
• Palm oil and palm oil-based products (7.8% of total exports), recorded an increase of RM1.3 billion (+25.3%) to RM6.5 billion. Exports of palm oil, the major commodity in this group of products rose RM630.8 million or 20.1% due to the increase in average unit value (+34.5%) although export volume dropped 10.7%;
• Crude petroleum, which contributed 3.7% to total exports, increased RM1.3 billion or 74.1% to RM3.1 billion due to the increase in both average unit value (+61.7%) and export volume (+7.7%);
• Refined petroleum products, which accounted for 5.7% of total exports, grew RM1.2 billion or 32.7% to RM4.7 billion due to the increase in both average unit value (+17.7%) and export volume (+12.8%);
• Liquefied natural gas (LNG) (4.1% of total exports), increased RM352.9 million or 11.5% to RM3.4 billion due to the increase in both average unit value (+7.3%) and export volume (+4.0%);
• Natural rubber, which contributed 0.7% to total exports, increased RM295.9 million or 111.6% to RM560.9 million due to the increase in both average unit value (+90.5%) and export volume(+11.1%); and
• Timber and timber-based products, which accounted for 2.7% of total exports, rose RM246.9 million or 12.4% to RM2.2 billion.

Exports, 2013-2017

On a m-o-m basis, exports grew RM10.8 billion (+15.1%) from RM71.8 billion due to the rise of these products:

• E&E products increased RM4.6 billion or 18.8% from RM24.6 billion;
• Crude petroleum grew RM688.5 million or 29.1% from RM2.4 billion due to the increase in both export volume (+27.4%) and average unit value (+1.3%);
• Refined petroleum products increased RM616.1 million or 15.1% from RM4.1 billion due to the increase in both export volume (+10.1%) and average unit value (+4.6%);
• Timber and timber-based products increased RM503.3 million or 29.1% from RM1.7 billion;
• LNG rose RM131.1 million or 4.0% from RM3.3 billion due to the increase in export volume (+8.4%) although average unit value fell 4.0%; and
• Natural rubber rose RM55.1 million or 10.9% from RM505.8 million due to the increase in both average unit value (+8.0%) and export volume (+2.7%).

However, decrease were recorded for the following product:

• Palm oil and palm oil-based products decreased RM482.5 million or 6.9% from RM7.0 billion. Exports of palm oil dropped RM209.0 million (-5.3%) mainly due to the decrease in both export volume (-4.5%) and average unit value (-0.8%).

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, exports decreased RM778.2 million (-1.0%) to RM79.0 billion.

IMPORTS

On a y-o-y basis, imports grew 39.4% from RM55.4 billion. The expansion was attributed to higher imports of intermediate goods, capital goods and consumption goods.

• Intermediate Goods

These goods which constituted 55.8% of total imports increased RM11.5 billion (+36.3%) to RM43.1 billion. The growth was mainly attributed to industrial supplies, processed (+RM4.1 billion, +34.8%), parts & accessories of capital goods (except transport equipment) (+RM3.5 billion, +28.5%), fuel & lubricants, processed, others (+RM1.7 billion, +223.2%) and parts & accessories of transport equipment (+RM720.0 million, +31.1%).

• Capital Goods

Imports of these goods which represented 17.5% of total imports grew  RM6.1 billion or 82.4% to RM13.5 billion due to the increase in capital goods (except transport equipment) (+RM4.5 billion, +64.3%) and transport equipment, industrial (+RM1.6 billion, +348.8%).

• Consumption Goods

Imports of consumption goods which accounted for 7.9% of total imports recorded an increase of RM750.2 million (+14.0%) to RM6.1 billion. The increase was mainly attributed to semi-durables (+RM242.0 million, +25.7%), durables (+RM189.6 million, +28.9%) and non-durables (+RM165.9 million, +12.7%).

Imports, 2013-2017

On a m-o-m basis, imports increased RM14.2 billion or 22.5% from RM63.1 billion. The increase in imports was attributed to capital goods, intermediate goods and consumption goods.

• Capital Goods

Imports of capital goods rose RM6.2 billion or 85.5% from RM7.3 billion due to the increase in capital goods (except transport equipment) (+RM4.6 billion, +66.5%) and transport equipment, industrial (+RM1.7 billion, +381.4%).

• Intermediate Goods

These goods grew RM4.6 billion (+12.0%) from RM38.5 billion. The main components which registered significant increases were parts & accessories of capital goods (except transport equipment) (+RM2.7 billion, +21.1%), industrial supplies, processed (+RM2.7 billion, +20.4%) and parts and accessories of transport equipment (+RM888.4 million, +41.4%). However, a decline was recorded in fuel & lubricants, primary (-RM2.5 billion, -56.9%).

• Consumption Goods

Imports of consumption goods rose RM1.5 billion (+33.2%) from RM4.6 billion. The increase was attributed to semi-durables (+RM388.6 million, +48.8%), non-durables (+RM353.5 million, +31.6%) and durables (+RM271.5 million, +47.2%).

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, imports increased RM5.0 billion  (+6.8%) to RM78.3 billion.

MARKET SHARE

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

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

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

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

Exports, Jan- Mar 2017, percentage share

Imports, Jan- Mar 2017, percentage share

Notes:

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

Released By:

THE OFFICE OF CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
05 MAY 2017

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

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