Total trade amounted RM156.2 billion, shrank 2.0% or RM3.1 billion. It also posted a drop of RM4.1 billion or 2.6% when compared to December 2019. The trade surplus which was valued at RM12.0 billion, rose RM484.4 million (+4.2%) from a year ago. However, it registered a decrease of RM496.1 million or 4.0% as compared to the previous month.
On a y-o-y basis, exports decreased 1.5% to RM84.1 billion. The main products which attributed to the decrease were:
However, higher exports were recorded for the following products:
On a m-o-m basis, exports slipped RM2.3 billion (-2.7%) from RM86.4 billion. The main products which attributed to the decrease were:
However, increases were recorded for the following products:
Exports to Country of Destination
The two major destinations for Malaysia’s exports in January 2020 were Singapore and China.
Exports to Singapore amounted to RM12.3 billion, which accounted for 14.6% of total exports, increased RM108.0 million (+0.9%) as compared to the previous year. The main product which attributed to the rise was refined petroleum products, which contributed 15.2% of total exports surged RM933.7 million to RM1.9 billion. However, export of crude petroleum decreased RM414.8 million or 82.9% to RM85.5 million.
Exports to China were valued at RM10.4 billion, which accounted for 12.4% of total exports, declined RM623.5 million (-5.7%). The main product which attributed to the decrease was LNG, which contributed 5.4% of total exports dropped RM595.2 million (-51.5%) to RM560.7 million.
Seasonally Adjusted Export Value
On a m-o-m basis seasonally adjusted terms, exports decreased RM1.1 billion (-1.3%) to RM83.4 billion.
Imports of capital goods, which accounted for 10.6% of total imports, dropped RM1.3 billion (-15.0%) to RM7.6 billion due to the decline in capital goods (except transport equipment) (-RM1.4 billion, -16.1%). However, transport equipment, industrial rose RM32.2 million (+7.0%).
Imports of consumption goods which constituted 9.0% of total imports recorded a decrease of RM63.0 million (-1.0%) to RM6.5 billion. The drop was mainly attributed to semi-durables (-RM131.8 million, -10.0%) and durables (-RM29.1 million, -3.4%). However, imports of food & beverages, processed, mainly for household consumption increased
RM64.6 million or 6.4%.
Intermediate goods which constituted 53.9% of total imports rose RM1.4 billion (+3.7%) to RM38.9 billion. The increase was mainly contributed by fuel & lubricants, primary (+RM998.5 million, +28.9%), industrial supplies, primary (+RM639.4 million, +31.2%) and parts & accessories of capital goods (except transport equipment) (+RM489.7 million, +5.3%). However, industrial supplies, processed decreased RM1.1 billion (-6.6%).
Imports of intermediate goods shrank RM3.1 billion (-7.3%) from RM41.9 billion. The main component attributed to the decrease was parts & accessories of capital goods (except transport equipment) (-RM2.8 billion, -22.5%), industrial supplies, processed (-RM527.1 million, -3.2%) and industrial supplies, primary (-RM407.6 million, -13.2%). Nevertheless, imports of fuel & lubricants, primary recorded an increase of RM692.6 million (+18.4%).
Imports of capital goods decreased RM965.2 million (-11.2%) from RM8.6 billion due to the decrease in both capital goods (except transport equipment) (-RM791.0 million, -10.0%) and transport equipment, industrial (-RM174.2 million, -26.1%).
Imports of consumption goods registered a decrease of RM365.6 million (-5.4%) from RM6.8 billion. The decrease was due to semi-durables (-RM181.3 million, -13.2%), food & beverages, processed, mainly for household consumption (-RM138.8 million, -7.6%) and durables (-RM123.5 million, -13.0%).
Imports by Country of Origin
The two main sources of Malaysia’s import in January 2020 were China and Singapore.
Imports from China which registered RM16.0 billion, shrank RM1.9 billion (-10.6%) when compared to January 2019. The main products which contributed to the decrease were:
Refined petroleum products (6.8% of total imports), decreased RM481.0 million or 30.7% to RM1.1 billion;
Mechanical handling equipment and parts, which contributed 0.8% of total imports slipped RM250.7 million or 65.1% to RM134.5 million; and
Motor cars and other motor vehicles for the transport of persons, which contributed 0.4% of total imports dropped RM205.8 million or 78.4% to RM56.5 million.
Imports from Singapore amounted to RM7.5 billion decreased RM71.7 million (-0.9%) from a year ago. The main product which attributed to the decrease was E&E products (32.5% of total imports), decreased RM236.4 million or 8.8% to RM2.4 billion.
Seasonally Adjusted Import Value
On a m-o-m basis seasonally adjusted terms, imports decreased RM643.8 million (-0.9%) to RM71.5 billion.
The following charts show Malaysia's major trading partners for January 2020.
Total Trade by Major Countries, Jan 2020, percentage share
Exports and Imports by Major Countries, Jan 2020, percentage share
The following charts show Malaysia’s trade with ASEAN countries for January 2020.
Exports, Jan 2020, percentage share
Imports, Jan 2020, percentage share
1. The January 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.
DATO' SRI DR. MOHD UZIR MAHIDIN
CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
4 MARCH 2020
Mohd Yusrizal Ab Razak
Public Relation Officer
Strategic Communication and International Division
Department of Statistics, Malaysia
Tel : +603-8885 7942
Fax : +603-8888 9248
Email : yusrizal.razak[at]dosm.gov.my