- In October 2019, exports slipped by 6.7% to RM90.6 billion year-on-year (y-o-y) due to high base in October 2018 which was the highest value ever recorded. Re-exports was valued at RM18.5 billion registering a decline of 10.2% y-o-y and accounted for 20.4% of total exports. Domestic exports also registered a decline of 5.8% or RM4.4 billion to RM72.1 billion.
- Imports amounted to RM73.3 billion, a contraction of 8.7% from October 2018.
- However, on a month-on-month (m-o-m) basis, exports increased 16.6% from RM77.7 billion. In seasonally adjusted terms, exports increased 13.2%.
- On a m-o-m basis, imports also recorded a growth of 5.6% from RM69.4 billion. In seasonally adjusted terms, imports increased 1.5%.
- On a y-o-y basis, exports fell due to the decline in exports to Australia (-RM2.0 billion), China (-RM1.7 billion), Japan (-RM1.4 billion) and Thailand
(-RM1.1 billion). However, exports increased to Singapore (+RM549.9 million) and Taiwan (+RM439.8 million).
- On a y-o-y basis, lower imports were mainly from Taiwan (-RM1.6 billion), Singapore (-RM1.1 billion), the European Union (-RM1.0 billion), China
(-RM910.0 million), Saudi Arabia (-RM818.7 million) and Republic of Korea (-RM708.0 million). However, imports increased from Australia (+RM757.0 million) and the United States (+RM435.4 million).
Total trade stood at RM163.9 billion, declining 7.6% or RM13.5 billion compared to October 2018. However, it rose 11.4% or RM16.8 billion when compared to the previous month. The trade surplus was valued at RM17.3 billion and recorded an increase of RM474.3 million (+2.8%) from a year ago. It also posted an increase of RM9.0 billion or 107.4% as compared to the previous month.
On a y-o-y basis, exports decreased 6.7% from RM97.1 billion. All main products were attributed to the decline.
- Crude petroleum, which contributed 2.1% to total exports, dropped RM1.9 billion or 50.5% to RM1.9 billion due to the decrease in both export volume (-40.8%) and average unit value (-16.4%);
- Refined petroleum products, which accounted for 5.4% of total exports, shrank RM1.8 billion or 27.2% to RM4.9 billion due to the drop in both average unit value (-16.3%) and export volume (-13.0%);
- Electrical and electronic (E&E) products (41.3% of total exports), declined RM1.2 billion (-3.2%) to RM37.4 billion;
- Liquefied natural gas (LNG), which accounted for 4.0% of total exports decreased RM745.5 million or 17.1% to RM3.6 billion due to the decrease in average unit value (-19.0%) as export volume increased 2.4%;
- Palm oil and palm oil-based products (6.2% of total exports), shrank RM572.5 million (-9.3%) to RM5.6 billion. Exports of palm oil, the major commodity in this group of products decreased RM354.0 million or 9.8% due to the decline in both export volume (-5.5%) and average unit value (-4.5%);
- Timber and timber-based products, which contributed 2.3% to total exports decreased RM84.6 million or 3.9% to RM2.1 billion; and
- Natural rubber (0.3% of total exports) dropped RM14.7 million or 4.7% to RM300.0 million due to the decrease in export volume (-6.6%) as average unit value increased 2.1%.
On a m-o-m basis, exports grew RM12.9 billion (+16.6%) from RM77.7 billion. All main products were contributed to the expansion.
- E&E products increased RM8.4 billion (+28.8%) from RM29.0 billion;
- Crude petroleum rose RM415.4 million or 28.4% from RM1.5 billion due to the increase in both export volume (+26.0%) and average unit value (+2.0%);
- Palm oil and palm oil-based products grew RM392.8 million or 7.5% from RM5.2 billion. Exports of palm oil increased RM211.0 million or 6.9% due to the increase in both export volume (+5.6%) and average unit value (+1.3%);
- LNG increased RM361.3 million or 11.1% from RM3.3 billion due to the increase in export volume (+17.7%) as average unit value decreased 5.6%;
- Timber and timber-based products increased RM206.4 million (+11.1%) from RM1.9 billion;
- Refined petroleum products grew RM182.5 million (+3.9%) from RM4.7 billion due to the increase in export volume (+4.7%) as average unit value decreased 0.8%; and
- Natural rubber grew RM8.2 million or 2.8% from RM291.8 million due to the rise in export volume (+5.3%) as average unit value decreased 2.3%.
Exports to Country of Destination
The two major destinations for Malaysia’s exports in October 2019 were Singapore (15.4% of total exports) and China (15.0% of total exports).
Exports to Singapore amounted to RM13.9 billion recording an increase of RM550.0 million (+4.1%) as compared to the previous year. The main products which attributed to the rise were:
- Crude petroleum (3.5% of total exports), increased RM294.0 million or 150.4% to RM490.2 million; and
- Palm oil and palm oil-based products (1.7% of total exports), increased RM95.8 million or 69.7% to RM233.3 million.
Exports to China which were valued at RM13.6 billion declined RM1.7 billion (-11.0%) as compared to October 2018. The main products which attributed to the decrease were:
- E&E products, which contributed 32.9% of total exports, fell RM1.2 billion (-21.5%) to RM4.5 billion; and
- Refined petroleum products (4.2% of total exports), declined RM540.0 million or 48.6% to RM572.2 million.
Seasonally Adjusted Figure
On a m-o-m basis seasonally adjusted terms, exports increased RM10.2 billion (+13.2%) to RM87.0 billion.
On a y-o-y basis, imports decreased RM7.0 billion or 8.7% from RM80.3 billion. All main categories of imports by end use recorded decreases.
These goods which constituted 51.2% of total imports decreased RM2.0 billion (-5.1%) to RM37.5 billion. The decrease was mainly attributed to parts & accessories of capital goods (except transport equipment) (-RM1.7 billion, -16.8%) and fuel & lubricants, primary (-RM1.6 billion, -40.5%).
However, imports of industries supplies, processed and industries supplies, primary increased RM936.0 million (+5.8%) and RM932.9 million (+46.6%) respectively.
Imports of capital goods, which accounted for 11.6% of total imports, declined RM1.1 billion (-11.5%) to RM8.5 billion due to the decrease in both capital goods (except transport equipment) (-RM702.5 million, -8.1%) and transport equipment industrial (-RM400.4 million, -42.5%).
- Consumption Goods
Imports of consumption goods which constituted for 8.4% of total imports shrank RM322.8 million (-5.0%) to RM6.1 billion. The decline was mainly attributed to non-durables (-RM134.8 million, -7.6%), semi-durables (-RM126.3 million, -10.5%) and durables (-RM125.8 million, -14.6%). However, food & beverages, primary, mainly for household consumption increased RM107.2 million or 14.0%.
On a m-o-m basis, imports increased RM3.9 billion or 5.6% from RM69.4 billion. The growth in imports was mainly attributed to capital goods and consumption goods.
Imports of capital goods increased RM645.3 million (+8.2%) from RM7.8 billion due to the increase in both capital goods (except transport equipment (+RM417.7 million, +5.6%) and transport equipment, industrial (+RM227.6 million, +72.6%).
Imports of consumption goods registered an increase of RM198.4 million (+3.3%) from RM5.9 billion. The increase was due to food & beverages, processed, mainly for household consumption (+RM149.8 million, +9.5%).
These goods declined RM2.4 billion (-6.1%) from RM39.9 billion. The main components attributed to the decline were parts & accessories of capital goods (except transport equipment) (-RM4.1 billion, -32.1%). However, industrial supplies, processed and food & beverages, processed, mainly for industries rose RM1.6 billion or 10.3% and RM521.5 million or 78.8% respectively.
Imports by Country of Origin
The two main sources of Malaysia’s import in October 2019 were China (18.9% of total imports) and Singapore (12.4% of total imports). Imports from China which registered RM13.9 billion shrank RM910.0 million (-6.2%) as compared to October 2018. The main product which attributed to the decrease was E&E products, which contributed 39.5% of total imports, declined RM563.0 million or 9.3% to RM5.5 billion.
Imports from Singapore declined RM1.1 billion (-10.9%) to RM9.1 billion from a year ago. The main product which attributed to the decrease was refined petroleum products (33.3% of total imports), decreased RM1.2 billion or 29.0% to RM3.0 billion. However, the imports of E&E products (35.7% of total imports), increased RM360.2 million or 12.5% to RM3.2 billion.
Seasonally Adjusted Figure
On a m-o-m basis seasonally adjusted terms, imports increased RM1.1 billion (+1.5%) to RM70.0 billion.
The following charts show Malaysia's major trading partners for January–October 2019.
Total Trade by Major Countries, Jan – Oct 2019, percentage share
Exports and Imports by Major Countries, Jan – Oct 2019, percentage share
The following charts show Malaysia’s trade with ASEAN countries for the period January - October 2019.
Exports, Jan – Oct 2019, percentage share
Imports, Jan – Oct 2019, percentage share
1. The October 2019 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 DECEMBER 2019
Rohaida binti Mohamad
Public Relation Officer
Strategic Communication and International Division
Department of Statistics, Malaysia
Tel : +603-8885 7942
Fax : +603-8888 9248
Email : rohaida.mohamad[at]dosm.gov.my