Malaysia’s total trade continued to register a double-digit growth in September 2022, expanded by 31.4 per cent, reaching RM256.9 billion as compared to RM195.5 billion in the preceding year. Exports increased by 30.1 per cent to RM144.3 billion in September 2022. Imports amounted at RM112.6 billion rose by 33.0 per cent year-on-year (y-o-y). Trade balance continued to record a surplus, with a value of RM31.7 billion, an increase of 20.9 per cent from the previous year.
In comparison to August 2022, exports and trade balance increased by 2.2 per cent and 86.1 per cent, respectively. However, imports and total trade showed declines. Imports shrank by 9.4 per cent while total trade decreased by 3.2 per cent.
The total trade, exports, imports and trade surplus for the third quarter (Q3) of 2022 grew significantly as compared to the Q3 of 2021. Total trade rose by 42.0 per cent, exports (+38.3%), imports (+46.5%), while trade surplus grew 5.6 per cent.
For the period of January to September 2022, the performance of total trade, exports, imports and trade surplus remained resilient with double-digit growth. Total trade grew by 32.9 per cent, supported by the expansion in exports (+30.3%) as well as imports (+36.2%) while trade surplus grew 6.3 per cent.
A. PERFORMANCE OF EXPORTS
Malaysia’s exports was recorded at RM144.3 billion, increased by 30.1 per cent as compared to September 2021. The increase was driven by both domestic exports and re-exports. Domestic exports stood at RM110.5 billion and contributed 76.6 per cent to total exports, grew by 25.9 per cent. On the same note, re-exports with a value of RM33.8 billion, grew by 46.4 per cent y-o-y. Meanwhile, for monthly comparison, exports also rose by 2.2 per cent or RM3.0 billion. Analysis of the seasonally adjusted terms month-on-month (m-o-m), exports decreased by 3.1 per cent or RM4.6 billion to RM142.8 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
Malaysia’s import value in September 2022 continued to register an increase of 33.0 per cent or RM27.9 billion, reaching RM112.6 billion. On a m-o-m basis, imports dropped by 9.4 per cent or RM11.6 billion. Based on seasonally adjusted terms m-o-m, imports decreased by 7.6 per cent to
Chart 3: Imports, Value (RM billion) and Annual Change (%)
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1. The September 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.
DEPARTMENT OF STATISTICS MALAYSIA
19 October 2022
Public Relation Officer
Strategic Communication and International Division
Department of Statistics, Malaysia
Tel : +603-8885 7942
Fax : +603-8888 9248