Overview

KEY FACTS

Malaysia’s total trade continued its double-digit growth in July 2022, expanded by 39.8 per cent, reaching RM252.6 billion as compared to RM180.7 billion in the preceding year. Exports increased by 38.0 per cent to RM134.1 billion in July 2022. Imports amounted to RM118.6 billion, rose by 41.9 per cent year-on-year (y-o-y). Trade balance continued to record a surplus, with a value of RM15.5 billion, an increase of 14.3 per cent from the previous year.

Comparing to June 2022, total trade, exports, imports and trade balance decreased by 6.5 per cent, 8.2 per cent, 4.5 per cent and, 29.1 per cent, respectively.

For the period of January to July 2022, total trade, exports, imports and trade surplus continued to record positive growth. Total trade grew by 29.9 per cent, supported by the expansion in exports (+27.8%) as well as imports (+32.5%). At the same time, trade surplus grew by 7.4 per cent.

A. PERFORMANCE OF EXPORTS

Malaysia’s exports was recorded at RM134.1 billion, increased by 38.0 per cent as compared to July 2021. The increase was driven by both domestic exports and re-exports. Domestic exports stood at RM102.1 billion and contributed 76.2 per cent to total exports, grew by 33.4 per cent. On the same note, re-exports with a value of RM32.0 billion, increased by 55.1 per cent y-o-y. Meanwhile, for monthly comparison, exports fell by 8.2 per cent or RM12.0 billion. Analysis of the seasonally adjusted terms month-on-month (m-o-m), exports decreased by 12.4 per cent or RM18.5 billion to reach RM134.1 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

Import growth continued to outpace export growth in July 2022, grew 41.9 per cent or RM35.0 billion to RM118.6 billion. On a m-o-m basis, imports dropped by 4.5 per cent or RM5.6 billion. Analysis of the seasonally adjusted terms m-o-m, imports decreased by 10.0 per cent to RM118.6 billion.

On a y-o-y basis, imports by end use registered a positive growth with the increases in the intermediate goods (+32.2%); capital goods (+29.6%) and consumption goods (+33.2%).

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 July 2022  data is preliminary 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:

DEPARTMENT OF STATISTICS, MALAYSIA

19 August 2022

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