Total trade valued at RM147.9 billion decreased RM5.8 billion or 3.8% compared to March 2019. However, it posted an increase of RM11.6 billion or 8.5% as compared to February 2020. The trade surplus was RM12.3 billion, declined RM2.0 billion (-14.2%) from a year ago. It also decreased at 2.2% or RM280.6 million as compared to the previous month.
On a y-o-y basis, exports decreased 4.7% to RM80.1 billion. The main products which attributed to the decline were:
However, exports of refined petroleum products recorded an increase of RM2.2 billion or 44.3% to RM7.2 billion due to the growth in export volume (+60.4%) even though the average unit value decreased 10.0%.
On a m-o-m basis, exports rose RM5.7 billion (+7.6%) from RM74.5 billion. The main products which contributed to the growth were:
However, declines were recorded for the following products:
Exports to Country of Destination
Two major destinations for Malaysia’s exports in March 2020 were Singapore and China.
Exports to Singapore amounted RM11.4 billion, increased RM897.0 million or 8.6% as compared to the previous year. The main product which attributed to the increment was refined petroleum products, which contributed 22.0% of total exports rose RM1.5 billion (+155.7%) to RM2.5 billion. However, exports of E&E products declined RM249.6 million or 5.4% to RM4.4 billion.
Exports to China which was valued at RM11.0 billion declined RM713.0 million (-6.1%). The main products that attributed to the decrease was E&E products, which contributed 32.5% of total exports fell RM1.3 billion (-27.4%) to RM3.6 billion. However, exports of refined petroleum products increased RM451.3 million to RM519.1 million.
Seasonally Adjusted Export Value
On a m-o-m basis seasonally adjusted terms, exports fell RM6.7 billion (-8.0%) to RM76.7 billion.
On a y-o-y basis, imports declined RM1.9 billion or 2.7% to RM67.8 billion.
In March 2020, total imports of capital goods which accounted for 6.4% of total imports declined by 47.5% to RM4.4 billion. Capital goods (except transport equipment) were down by RM792.6 million (-10.8%) to RM6.6 billion. Retained imports of transport equipment, industrial was –RM2.2 billion due to re-exports of this good exceeded imports.
These goods which constituted 57.2% of total imports expanded RM763.0 million (+2.0%) to RM38.8 billion. The increase was mainly attributed to fuel & lubricants, primary (+RM1.4 billion, +40.7%) and industrial supplies, primary (+RM731.8 million, +36.4%). However, decreases were recorded for part & accessories of capital goods (except transport equipment) (-RM810.9 million, -6.7%) and parts & accessories of transport equipment (-RM615.5 million, -24.4%).
Imports of consumption goods which constituted 9.3% of total imports recorded an increase of RM410.9 million (+7.0%) to RM6.3 billion. The growth was mainly attributed to food & beverages, processed, mainly of household consumption (+RM320.3 million, +18.6%) and food & beverages, primary, mainly for household consumption (+RM247.1 million, +29.2%).
Imports of these goods registered an increase of RM1.3 billion (+25.7%) from RM5.0 billion. The increase was due to food & beverages, processed, mainly for household consumption (+RM437.7 million, +27.3%), semi-durables (+RM364.9 million, +55.2%) and food & beverages, primary, mainly for household consumption (+RM277.4 million, +34.0%).
These goods rose RM391.3 million (+1.0%) from RM38.4 billion. The main components contributed to the growth were fuel & lubricants, primary (+RM2.1 billion, +81.3%) and industrial supplies, processed (+RM1.3 billion, +9.8%). However, decreases were recorded for part & accessories of capital goods (except for transport equipment) (-RM2.4 billion, -17.3%) and fuel & lubricants, processed, other (-RM1.2 billion, -42.2%).
Imports of capital goods declined by 20.6% to RM4.4 billion compared to RM5.5 billion recorded in the previous month on account of transport equipment, industrial which was valued at -RM2.2 billion. On the other hand, capital goods (except transport equipment) increased by RM1.4 billion (+26.8%) to RM6.6 billion.
Imports by Country of Origin
Two main sources of Malaysia’s import in March 2020 were China and Singapore.
Imports from China which registered RM13.9 billion rose RM160.1 million (+1.2%) when compared to March 2019. The main products which attributed to the increase was E&E, which contributed 40.5% of total imports expanded RM582.7 million or 11.5% to RM5.6 billion.
Imports from Singapore which was valued at RM5.9 billion, declined RM1.9 billion or 24.6% from a year ago. The main products which attributed to the drop were:
Seasonally Adjusted Import Value
On a m-o-m basis seasonally adjusted terms, imports decreased RM1.7 billion (-2.5%) to RM68.4 billion.
The following charts show Malaysia's major trading partners for January - March 2020.
Total Trade by Major Countries, Jan-Mar 2020, percentage share
Exports and Imports by Major Countries, Jan-Mar 2020, percentage share
The following charts show Malaysia’s trade with ASEAN countries for January-March 2020.
Exports, Jan-Mar 2020, percentage share
Imports, Jan-Mar 2020, percentage share
1. The March 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 MAY 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
E-mail : yusrizal.razak[at]dosm.gov.my