Overview

KEY FACTS

MONTHLY

• On a year-on-year (y-o-y) basis, exports increased RM1.3 billion (+1.6%) to RM84.8 billion. Re-exports in November 2018 was valued at RM15.9 billion registering an increase of 24.5% y-o-y and accounted for 18.7% of total exports. Domestic exports declined 2.6% (-RM1.8 billion) to RM68.9 billion.  
• On a y-o-y basis, imports rose RM3.7 billion (+5.0%) to RM77.2 billion.
• On a month-on-month (m-o-m) basis, exports decreased 12.0% or RM11.6 billion from RM96.4 billion. In seasonally adjusted terms, exports declined 12.9%.
• On a m-o-m basis, imports also recorded a decrease of 3.5% or RM2.8 billion from RM80.1 billion. In seasonally adjusted terms, imports grew 1.2%.
• On a y-o-y basis, exports rose due to higher exports to Taiwan (+RM1.1 billion), Viet Nam (+RM938.5 million), Hong Kong (+RM876.8 million), Singapore (+RM872.2 million) and China (+RM435.3 million).

On a y-o-y basis, higher imports were mainly from European Union (+RM773.3 million), Saudi Arabia (+RM581.8 million), Republic of Korea (+RM456.8 million), Russian Federation (+RM411.4 million) and Taiwan (+RM409.4 million).

TRADE

Total trade which was valued at RM162.0 billion increased RM5.0 billion or 3.2% from a year ago. However, it fell RM14.4 billion or 8.2% when compared to October 2018. The trade surplus was RM7.6 billion, a decline of RM2.4 billion (-24.0%) from November 2017. It was also lower by RM8.8 billion (-53.7%) when compared to the previous month.

EXPORT

On a y-o-y basis, exports increased 1.6% from RM83.5 billion. The main products which contributed to the increase were:

• Refined petroleum products, which accounted for 7.7% of total exports, rose RM2.2 billion or 49.0% to RM6.5 billion due to the increase in both average unit value (+28.7%) and export volume (+15.8%);
• Liquefied natural gas (LNG), which accounted for 5.4% of total exports grew RM953.0 million or 26.4% to RM4.6 billion due to the increase in both average unit value (+21.3%) and export volume (+4.2%); and
• Crude petroleum, which contributed 3.4% to total exports increased RM430.4 million or 17.7% to RM2.9 billion due to the growth in average unit value (+33.6%) although export volume dropped 11.9%.

However, the following products recorded a decrease:

• Palm oil and palm oil-based products (6.5% of total exports), decreased RM1.3 billion (-18.6%) to RM5.5 billion. Exports of palm oil, the major commodity in this group of products declined RM832.2 million or 20.9% due to the decrease in both average unit value (-19.6%) and export volume (-1.5%);
• Electrical and electronic (E&E) products (36.8% of total exports), shrank RM528.2 million (-1.7%) to RM31.2 billion;
• Timber and timber-based products (2.3% of total exports) declined     RM146.8 million or 7.0% to RM2.0 billion; and
• Natural rubber, which contributed 0.4% to total exports, recorded a marginal decrease of RM8.5 million or 2.7% to RM304.8 million due to the drop in average unit value (-12.6%) although export volume increased 11.3%.

On a m-o-m basis, exports decreased RM11.6 billion (-12.0%) from RM96.4 billion. The main products which contributed to the decline were:

• E&E products declined RM7.2 billion (-18.8%) from RM38.4 billion;
• Crude petroleum shrank RM927.8 million or 24.5% from RM3.8 billion due to   the decrease in export volume (-25.0%) as average unit value increased 0.7%;
• Palm oil and palm oil-based products dropped RM620.1 million or 10.1% from RM6.2 billion. Exports of palm oil decreased RM459.9 million or 12.7% due to the decline in both export volume (-11.1%) and average unit value (-1.9%);  
• Timber and timber-based products decreased RM201.2 million (-9.3%) from RM2.2 billion;
• Refined petroleum products dropped RM151.2 million or 2.3% from RM6.7 billion  due  to  the  decline  in  export  volume  (-2.6%) although average unit value rose 0.3%; and
• Natural rubber recorded a decrease of RM10.0 million or 3.2% from RM314.7 million due to the decrease in both export volume (-2.3%) and average unit value (-0.9%).

Nevertheless, exports of LNG, registered an increase of RM492.1 million or 12.1% from RM4.1 billion due to the growth in export volume (+17.4%) as average unit value decreased 4.5%.

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, exports dropped RM11.9 billion (-12.9%) to RM80.9 billion.

Exports, 2014-2018

IMPORTS

On a y-o-y basis, imports increased 5.0% to RM77.2 billion. The growth in imports by end use was mainly attributed to consumption goods and capital goods.

• Consumption Goods

Imports of consumption goods which constituted for 8.6% of total imports recorded an increase of RM59.0 million (+0.9%) to RM6.6 billion. The increase was mainly attributed to durables (+RM163.1 million, +19.5%), non-durables (+RM122.7 million, +8.2%) and food & beverages, processed, mainly for household consumption (+RM52.2 million, +2.9%). However, semi-durables recorded a decrease of RM201.4 million (-13.7%).

•  Capital Goods

Imports of capital goods, which accounted for 13.6% of total imports, rose RM39.6 million (+0.4%) to RM10.5 billion due to the growth in transport equipment, industrial (+RM1.0 billion, +168.2%). However, capital goods (except transport equipment) recorded a decline of RM996.1 million (-10.1%).

•  Intermediate Goods

These goods which constituted 52.1% of total imports decreased RM137.5 million (-0.3%) to RM40.2 billion. The decline was attributed to parts & accessories of capital goods (except transport equipment) (-RM2.5 billion, -17.2%). However, increases were recorded in fuel & lubricants, processed, others (+RM1.1 billion, +71.2%) and industrial supplies, processed (+RM906.5 million, +5.7%).

On a m-o-m basis, imports declined RM2.8 billion or 3.5% from RM80.1 billion.

•  Capital Goods

Imports of capital goods expanded RM1.1 billion (+11.3%) from RM9.4 billion due to the increase in both transport equipment, industrial (+RM710.0 million, +75.4%) and capital goods (except transport equipment) (+RM351.7 million, +4.1%).

•  Intermediate Goods

These goods grew RM921.3 million (+2.3%) from RM39.3 billion. The main components attributed to the increase were parts & accessories of capital goods (except transport equipment) (+RM1.9 billion, +18.0%) and industrial supplies, processed (+RM901.0 million, +5.7%). However, fuel & lubricants, primary shrank RM1.6 billion or 40.4%.

•  Consumption Goods

Imports of these goods registered an increase of RM207.0 million (+3.2%) from RM6.4 billion. The increase was due to durables (+RM139.1 million, +16.2%), semi-durables (+RM107.7 million, +9.2%) and food & beverages, processed, mainly for household consumption (+RM94.3 million, +5.3%). However, non-durables declined RM138.2 million or 7.8%.    

Seasonally Adjusted Figure

On a m-o-m basis seasonally adjusted terms, imports increased RM916.8 million (+1.2%) to RM77.4 billion.

 Imports, 2014-2018

MARKET SHARE

The following charts show Malaysia's major trading partners for  January – November 2018.

Total Trade by Major Countries, Jan – Nov 2018, percentage share

Exports and Imports by Major Countries, Jan – Nov 2018, percentage share

The following charts show Malaysia’s trade with ASEAN countries for January - November 2018.

Exports, Jan - Nov 2018, percentage share

Imports, Jan – Nov 2018, percentage share

Notes:

# The November 2018 data is provisional and subject to revision in later issues.

Released By:

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

04 JANUARY 2019

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