Overview

• On a year-on-year (y-o-y) basis, exports rose RM1.8 billion (+2.7%) to RM67.7 billion.
• On a y-o-y basis, imports increased RM2.3 billion (+4.2%) to RM58.5 billion.
• On a month-on-month (m-o-m) basis, exports also increased RM4.0 billion (+6.2%) from RM63.7 billion. In seasonally adjusted terms, exports expanded by 6.3%.
• On a m-o-m basis, imports grew RM5.9 billion (+11.2%) from RM52.6 billion. In seasonally adjusted terms, imports also increased 8.7%.
• On a y-o-y basis, exports increased due to the rise in exports to United States of America (+RM1.3 billion), European Union (+RM1.2 billion), Republic of Korea (+RM963.0 million), Singapore (+RM523.2 million) and India (+RM444.1 million).
• On a y-o-y basis, higher imports were mainly from People’s Republic of China (+RM1.7 billion), Saudi Arabia (+RM589.1 million), India (+RM526.4 million), United States of America (+RM397.9 million) and Australia (+RM394.0 million).

TRADE

Total trade in December 2014 which was valued at RM126.2 billion increased RM4.1 billion or 3.4% from a year ago. It also posted an increase of RM9.9 billion or 8.5% from the previous month. On a y-o-y basis, the trade surplus declined RM573.3 million or 5.9% to RM9.2 billion. It also recorded a decrease of RM1.9 billion or 17.4% when compared with the previous month.

EXPORTS

On a y-o-y basis, exports increased 2.7% from RM65.9 billion. The main products contributing to the increase were:

• Electrical and electronic (E&E) products, which accounted for 34.4% of total exports, expanded RM3.0 billion or 14.9% to RM23.3 billion;
• Liquefied natural gas (LNG), which contributed 9.4% to total exports, grew 12.9% or RM724.7 million to RM6.3 billion due to the increase in both export volume (+6.8%) and average unit value (+5.7%); and
• Timber and timber-based products, which contributed 2.8% to total exports, increased RM211.4 million or 12.5% to RM1.9 billions.
   

However, the following products declined in export value:

• Petroleum products, which accounted for 6.4% of total exports, fell RM3.3 billion or 43.3% to RM4.3 billion due to the decrease in both export volume (-32.3%) and average unit value (-16.2%);
• Crude petroleum (3.4% of total exports), declined RM1.3 billion or 35.7% to RM2.3 billion due to the drop in average unit value of 27.3% and export volume by 11.6%;
• Natural rubber (0.6% of total exports), declined RM266.4 million (-41.6%) to RM373.5 million due to the decrease in both export volume (-16.6%) and average unit value (-30.0%); and
• Palm oil and palm oil-based products (8.2% of total exports), decreased RM48.9 million or 0.9% to RM5.5 billion. Exports of palm oil, the major commodity in this group of products, dropped RM369.4 million or 9.3% and this was attributed to the decrease in average unit value (-9.7%) as export volume increased 0.5%.

Exports, 2010-2014

On a m-o-m basis, exports rose 6.2% to RM67.7 billion. The main products which contributed to the increase were:

• LNG, expanded RM1.1 billion (+21.6%) from RM5.2 billion due to the increase in both export volume (+19.7%) and average unit value (+1.6%);
• Palm oil and palm oil-based products, increased RM532.2 million or 10.7% from RM5.0 billion. Exports of palm oil rose RM355.5 million and this was contributed by the rise in export volume (+11.7%). However, average unit value decreased marginally by 0.7%;
• Petroleum products, grew RM486.5 million (+12.7%) from RM3.8 billion due to the increase in export volume of 20.0% as average unit value decreased 6.1%;
• E&E products, increased RM334.7 million (+1.5%) from RM23.0 billion; and
• Natural rubber, increased RM126.6 million or 51.3% from RM246.9 million and this was attributed to the increase in export volume (+49.7%) and average unit value (+1.1%).

However, the following commodity recorded a decline:

• Crude petroleum, fell RM485.5 million or 17.3% from RM2.8 billion due to the decrease in both export volume (-7.3%) and average unit value (-10.7%).

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, exports rose RM4.0 billion (+6.3%) to RM67.5 billion.

IMPORTS

On a y-o-y basis, imports increased 4.2% from RM56.1 billion. The expansion was mainly attributed to intermediate goods and consumption goods.

• Intermediate Goods

These goods which constituted 57.4% of total imports expanded RM3.6 billion (+11.8%) to RM33.6 billion. The rise were mainly contributed by industrial supplies, processed (+RM2.0 billion, +18.0%), fuel & lubricants, processed, others (+RM1.2 billion, +119.8%) and parts and accessories of capital goods (except transport equipment) (+RM446.1 million, +4.1%).

• Consumption Goods

Imports of consumption goods which accounted for 7.8% of total imports expanded RM199.2 million (+4.5%) to RM4.6 billion. The main components   attributed to the increase were non-durables (+RM119.0 million, +12.6%), food & beverages, processed, mainly for household consumption (+RM82.9 million, +6.6%) and durables (+RM80.7 million, +12.5%).

• Capital Goods

Imports of these goods which represented 16.3% of total imports decreased RM266.4 million or 2.7% to RM9.6 billion due to the decrease in transport equipment, industrial (-RM1.3 billion, -44.3%). However, capital goods (except transport equipment) increased RM1.0 billion (+15.1%).

Imports, 2010-2014

On a m-o-m basis, imports grew RM5.9 billion or 11.2% to RM58.5 billion. This growth was contributed by imports of intermediate goods, capital goods and consumption goods.

• Intermediate Goods

These goods went up RM2.2 billion (+6.9%) from RM31.4 billion. The main components which contributed to the increase were parts & accessories of capital goods (except transport equipment) (+RM997.4 million, +9.7%), industrial supplies, processed (+RM511.7 million, +4.0%), industrial supplies, primary (+RM443.9 million, +37.5%) and fuel & lubricants, processed, others (+RM407.6 million, +23.7%).

•  Capital Goods

Imports of capital goods grew RM1.6 billion or 19.5% from RM8.0 billion due to the increase in both capital goods (except transport equipment)     (+RM1.0 billion, +14.8%) and transport equipment, industrial (+RM545.0 million, +49.5%).

•  Consumption Goods

Imports of consumption goods increased RM532.7 million (+13.2%) from RM4.0 billion. This was due to the increase in (+RM177.1 million, +15.2%),semi-durables (+RM167.6 million, +29.6%) and durables (+RM102.7 million, +16.5%).

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, imports increased RM4.6 billion (+8.7%) to RM58.0 billion.

MARKET SHARE

The following charts show Malaysia's major trading partners for January - December 2014.

Total Trade by Major Countries, Jan - Dec 2014, percentage share  

Exports and Imports by Major Countries, Jan - Dec 2014, percentage share  

The following charts show Malaysia’s trade with ASEAN countries for January - December 2014.

 Exports, Jan - Dec 2014, percentage share

Imports, Jan - Dec 2014, percentage share

 

*Notes:

1. Data for December 2014 is provisional. The data will be updated based on the latest available figures and subsequently published in the January 2015 publication. 

THE OFFICE OF CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
5 February 2015 

Contact person:
Norrita binti Amran
Public Relation Officer
Corporate and User Services Division
Department of Statistics, Malaysia
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Email : norrita.amran@stats.gov.my
 

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