Overview

KEY FACTS :

• On a month-on-month (m-o-m) basis, exports increased RM1.2 billion (+1.7%) from RM68.0 billion. In seasonally adjusted terms, exports dropped 1.1%.
• On a m-o-m basis, imports declined RM1.0 billion (-1.7%) from RM60.5 billion. In seasonally adjusted terms, imports dropped 5.8%.
• On a year-on-year (y-o-y) basis, exports declined RM6.5 billion (-8.6%) to RM69.2 billion. Re-exports in October 2016 was valued at RM10.1 billion and accounted for 14.6% of total exports.
• On a y-o-y basis, imports also decreased RM4.2 billion (-6.6%) to RM59.4 billion.
• On a m-o-m basis, exports increased due to the rise in exports to China (+RM537.9 million), Indonesia (+RM423.0 million), Republic of Korea (+RM411.6 million) and European Union (+RM336.3 million).
• On a m-o-m basis, lower imports were mainly due to decreased imports from China (-RM764.2 million), India (-RM692.5 million), Saudi Arabia (-RM310.6 million) and Taiwan (-RM285.0 million).

TRADE

Total trade in October 2016, which was valued at RM128.6 billion, posted a growth of 0.1% or RM130.7 million from the previous month. However, on a y-o-y basis, it registered a decline of RM10.7 billion or 7.7%. A trade surplus of RM9.8 billion was registered in October 2016 as compared to the RM7.6 billion recorded in the previous month. However, the trade surplus declined RM2.3 billion or 19.4% when compared with the previous year.

EXPORTS

On a m-o-m basis, exports increased 1.7% to RM69.2 billion. The main products contributing to the increase were:

• Electrical and electronic (E&E) products, which accounted for 38.4% of total exports, increased RM329.5 million (+1.3%) to RM26.6 billion;
• Refined petroleum products, which contributed 6.1% to total exports, grew 2.8% or RM114.8 million to RM4.2 billion due to the increase in average unit value (+8.8%) as export volume fell 5.5%;
• Timber and timber-based products, which accounted for 2.7% of total exports increased RM114.7 million or 6.5% to RM1.9 billion;
• Natural rubber (0.5% of total exports), grew RM41.6 million or 13.8% to RM343.9 million due to the rise in both export volume (+7.9%) and average unit value (+5.5%); and
• Liquefied natural gas (LNG), which accounted for 3.9% of total exports, rose RM6.1 million (+0.2%) to RM2.7 billion due to the increase in  average unit value (+4.3%) although export volume fell 3.9%.

However, the following products recorded a decrease:

• Palm oil and palm-based products (9.1% of total exports), decreased RM106.4 million or 1.7% to RM6.3 billion due to palm-based oleochemical which decreased RM155.1 million (-9.6%). Exports of palm oil, the major commodity in this group of products also fell RM21.3 million or 0.5% and this was attributed to the 7.3% drop in export volume as average unit value rose 7.3%; and
• Crude petroleum (2.5% of total exports), declined RM79.8 million (-4.4%) to RM1.8 billion due to the 10.9% decrease in export volume as average unit value rose 7.4%.
   

  Exports, 2012-2016

On a y-o-y basis, exports decreased 8.6% from RM75.7 billion. The main products which attributed to the decline were:

• LNG decreased RM1.8 billion (-40.2%) from RM4.5 billion due to the decrease in both average unit value (-32.8%) and export volume (-11.0%);
• Crude petroleum, fell RM679.3 million or 27.9% from RM2.4 billion due to the decrease in both export volume (-22.0%) and average unit value (-7.6%);
• Timber and timber-based products, decreased RM240.8 million or 11.4% from RM2.1 billion; and
• Refined petroleum products, decreased RM60.2 million or 1.4% from RM4.3 billion due to the decline in average unit value of 14.7% as export volume rose 15.6%.

However, the following commodities recorded an increase:

• E&E products increased RM317.7 million (+1.2%) from RM26.2 billion;
• Palm oil and palm based-products increased RM131.1 million or 2.1% from RM6.2 billion mainly due to the increase of palm kernel oil (+RM97.8 million, +25.6%) and palm-based oleochemical (+RM91.7 million, +6.7%). Exports of palm oil, grew RM33.6 million (+0.9%) due to the increase in average unit value (+25.6%) as export volume declined 19.7%; and
• Natural rubber, increased RM18.0 million or 5.5% from RM325.9 million due to the rise in export volume (+7.2%) although average unit value fell 1.6%.

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, exports declined RM752.7 million (-1.1%) to RM65.2 billion.

IMPORTS

On a m-o-m basis, imports decreased 1.7% from RM60.5 billion. The decline was attributed to lower imports of intermediate goods and consumption goods.

• Intermediate Goods

These goods which represented 56.7% of total imports declined RM1.1 billion (-3.0%) to RM33.7 billion. The decrease was mainly attributed to industrial supplies, processed (-RM685.7 million, -5.0%) and industrial supplies, primary (-RM334.1 million, -22.9%).

• Consumption Goods

Imports of consumption goods which constituted 9.0 % of total imports decreased RM65.2 million (-1.2%) to RM5.4 billion. The main components which attributed to the decrease were non-durables (-RM120.6 million, -8.5%) and semi-durables (-RM5.9 million, -0.5%)

• Capital Goods

However, imports of these goods which accounted for 15.0% of total imports increased  RM543.4 million or 6.5% to RM8.9 billion due to the growth in transport equipment, industrial (+RM398.1 million, +32.3%) and capital goods (except transport equipment)  (+RM145.3 million, +2.0%).

Imports, 2012-2016 

On a y-o-y basis, imports decreased RM4.2 billion or 6.6% to RM59.4 billion. The decline in imports was attributed to intermediate goods, consumption goods and capital goods.

• Intermediate Goods

These goods decreased RM3.3 billion (-8.9%) from RM37.0 billion. The main components which attributed to the decline were parts & accessories of capital goods (except transport equipment) (-RM1.7 billion, -11.9%) and fuel & lubricants, processed, others (-RM1.2 billion, -52.2%).

• Consumption Goods

Imports of consumption goods dropped RM463.1 million (-8.0%) from RM5.8 billion. The decrease was attributed to food & beverages, processed, mainly for household consumption (-RM183.5 million, -11.6%), semi-durables (-RM116.1 million, -9.2%) and non-durables (-RM112.8 million, -8.0%).

• Capital Goods

Imports of capital goods fell RM183.2 million (-2.0%) from RM9.1 billion due to the decrease in capital goods (except for transport equipment) (-RM728.1 million, -9.1%). However, imports of transport equipment, industrial increased RM544.8 million or 50.2%.

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, imports decreased RM3.5 billion (-5.8%) to RM56.3 billion.

MARKET SHARE

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

Total Trade by Major Countries, Jan - Oct 2016, percentage share

Exports and Imports by Major Countries, Jan - Oct 2016, percentage share

The    following    charts   show   Malaysia’s   trade   with    ASEAN   countries   for January - October 2016,

Exports, Jan – Oct 2016, percentage share

Imports, Jan – Oct 2016, percentage share

Notes:

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

Released By:

THE OFFICE OF CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
07 DECEMBER 2016

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

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