Overview

Amid global economic uncertainty, Malaysia’s total trade declined by 14.5 per cent or RM33.7 billion in April 2023, to post a value of RM198.0 billion as compared to RM231.7 billion in the same month of preceding year. The value of exports and imports also decreased 17.4 per cent to RM105.4 billion and 11.1 per cent to RM92.6 billion, respectively. Trade balance recorded a double-digit negative growth of 45.3 per cent with a value of RM12.8 billion in April 2023.  

In comparison to March 2023, exports, imports, total trade and trade surplus experienced a double-digit contraction of 18.7 per cent, 10.1 per cent, 14.9 per cent and 51.9 per cent, respectively.  

The first four months of 2023 also noted a decline in the performance of exports, imports, total trade and trade surplus. Exports fell 2.6 per cent to RM460.0 billion while imports amounted RM382.8 billion, flatten by 0.3 per cent. Concurrently, total trade tapered off by 1.6 per cent to RM842.8 billion, while trade balance was valued to RM77.2 billion, shrank 12.7 per cent.

                                                                                                            Chart 1 : Domestic Exports, Re-Exports (RM billion) and Annual Change (%)

                                                                                                     Chart 2 : Actual Export Value and Seasonally Adjusted Export Value, RM billion

Performance of Imports

Malaysia's imports showed a downward performance for two consecutive months with 11.1 per cent or RM11.5 billion y-o-y. On a m-o-m basis, imports decelerated by 10.1 per cent or RM10.4 billion to RM92.6 billion as compared to RM103.0 billion in March 2023. Analysis of seasonal adjustment terms, m-o-m, showed imports subdued by 11.4 per cent to RM89.7 billion.

On a y-o-y basis, imports by End Use experienced a negative growth as imports of the intermediate goods and consumption goods decreased by 24.2 per cent and 1.6 per cent respectively. However, imports of capital goods continued to increase with 11.8 per cent.

                                                                                                                Chart 3 : Imports, Value (RM billion) and Annual Change (%)

                                                                                                            Chart 4 : Actual Import Value and Seasonally Adjusted Imports Value, RM billion

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