Overview

KEY FACTS

Malaysia’s exports in December 2020 expanded by 10.8 per cent from RM86.4 billion in December 2019 to RM95.7 billion, the highest export value recorded in 2020. This was also the second highest export value registered, after RM97.1 billion posted in October 2018. Imports rebounded to register an increase of 1.6 per cent to RM75.0 billion, as compared with December 2019. Trade surplus soared by 64.9 per cent to RM20.7 billion year-on-year (y-o-y). Total trade in December 2020, amounted to RM170.8 billion widened by 6.5 per cent y-o-y.

On a month-on-month (m-o-m) basis, exports, imports, total trade and trade balance posted a double-digit growth of 13.1 per cent, 11.0 per cent, 12.2 per cent and 21.4 per cent respectively.

A.EXPORTS

• Exports in December 2020 stood at RM95.7 billion, increased by 10.8 per cent y-o-y, surpassing imports growth for eight consecutive months. In comparison to November 2020, exports also posted a double-digit growth of 13.1 per cent.
• Exports for the fourth quarter (Q4) of 2020, also grew by 5.1 per cent from RM258.2 billion in Q4 2019 to RM271.5 billion. In comparison to Q3 2020, exports also posted an increase of 4.2 per cent.
• In 2020, exports declined by 1.4 per cent from RM995.1 billion to RM981.0 billion.
• Expansion in exports was supported mainly by higher exports to Singapore, China, the United States, India, Hong Kong and the European Union.
• Exports of manufactured goods amounted to RM82.0 billion, made up 85.6 per cent of total exports, expanded by 12.4 per cent y-o-y. Exports of agriculture goods, which represented 8.7 per cent of total exports soared by 47.1 per cent from RM5.7 billion to RM8.4 billion. Meanwhile, exports of mining goods (5.2 per cent of total exports) declined 31.0 per cent or RM2.3 billion to RM5.0 billion.

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B. IMPORT

• Malaysia’s imports in December 2020 was valued at RM75.0 billion, went up by 1.6 per cent or RM1.2 billion compared with December 2019. After nine consecutive months of decline, imports rebounded to post a positive growth. On m-o-m basis, imports also expanded by 11.0 per cent from RM67.6 billion.
• In 2020, Malaysia’s imports contracted by 6.3 per cent or RM53.2 billion to RM796.2 billion as compared to 2019.
• Imports in Q4 of 2020, shrank by 4.5 per cent from RM221.4 billion in Q4 2019 to RM211.6 billion. However in comparison to Q3 2020, imports registered an increase of 5.7 per cent.
• In December 2020, the increasing imports from China, Indonesia, Hong Kong and Taiwan contributed to the increase in Malaysia’s total imports.
• Imports of manufactured goods in December 2020 amounted to RM64.5 billion, comprised 86.0 per cent of total imports, rose by 3.1 per cent y-o-y. Imports of agriculture goods (7.1% of total imports) soared by 24.3 per cent or RM1.0 billion to RM5.3 billion, while imports of mining goods with a share of 4.2 per cent from the total imports, dropped by 44.2 per cent or RM2.5 billion to RM3.1 billion.
• Imports increased on the back of higher uptake of consumption goods. Imports of consumption goods with a share of 9.4 per cent to the total imports, grew by 3.3 per cent y-o-y to RM7.0 billion. Meanwhile, imports of intermediate goods (53.1% of total imports) and capital goods (11.2% of total imports) posted a decrease by 5.0 per cent and 2.0 per cent, respectively.

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#Notes:

1. The December 2020  data is provisional and subject to revision in later issues.
2. This report can be accessed through the web portal of the Department of Statistics, Malaysia (https://www.dosm.gov.my) under section: Latest Release.
 

Released By:

DATO' SRI DR. MOHD UZIR MAHIDIN
CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
 DrUzir_Mahidin       Dr_Uzir
 

29 January 2021

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