Overview

KEY FACTS

Malaysia’s total trade in December 2021 surged by 26.8 per cent, reaching RM216.7 billion as compared to RM171.0 billion in the previous year. Exports continued to increase with double-digit growth of 29.2 per cent to RM123.8 billion as compared to December 2020. Imports rose by 23.6 per cent year-on-year (y-o-y) in December 2021 amounted at RM92.9 billion. Trade value continued to record a surplus, with a value of RM31.0 billion, an increase of 49.5 per cent from the previous year. On a month-on-month (m-o-m) basis, exports, total trade and trade surplus recorded positive growths of 10.4 per cent, 5.5 per cent and 63.6 per cent, respectively. However, imports decreased marginally by 0.4 per cent.

The overall performance for the fourth quarter (Q4) of 2021 also experienced significant increase as compared to Q4 of 2020. Exports, imports, total trade and trade surplus expanded by 29.0 per cent, 29.6 per cent, 29.2 per cent and 26.9 per cent, respectively.

The strong growth of exports (+26.0%) and imports (+23.3%) in 2021 have boosted Malaysia’s total trade performance by 24.8 per cent to RM2.2 trillion, compared with RM1.8 trillion in 2020. The trade surplus widened by 37.7 per cent from RM183.3 billion in the preceding year to RM252.6 billion.

A. PERFORMANCE OF EXPORTS

Malaysia’s exports reached a new high, RM123.8 billion in December 2021, expanded by 29.2 per cent as compared to the previous year. The expansion was driven by both domestic exports and re-exports. Domestic exports stood at RM102.7 billion and contributed 83.0 per cent to total exports, grew by 30.7 per cent. On the same note, re-exports with a value of RM21.1 billion, grew by 22.3 per cent y-o-y. In comparison to November 2021, exports rose 10.4 per cent or RM11.6 billion. Analysis of the seasonally adjusted terms m-o-m, exports increased by 5.9 per cent or RM6.7 billion to RM119.0 billion.

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

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

B. PERFORMANCE OF IMPORTS

Malaysia’s imports in December 2021 totalled RM92.9 billion, continued to register a growth of 23.6 per cent or RM17.7 billion. On a m-o-m basis, imports decreased marginally by 0.4 per cent or RM403.3 million. Based on seasonally adjusted terms, imports dropped 0.8 per cent to RM89.7 billion.

On a y-o-y basis, imports by end use registered a positive growth with the increases in the intermediate goods, capital goods and consumption goods.

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

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

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#Notes:

1. The December 2021  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
 

28 January 2022

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