Malaysia’s total trade in February 2021 registered a double-digit growth of 15.4 per cent, reaching RM157.3 billion as compared to the same month last year. Exports remained at a higher level, increasing by 17.6 per cent to RM87.6 billion compared with February 2020. This was the strongest year-on-year (y-o-y) growth in 28 months. Imports in February 2021 was valued at RM69.7 billion expanded by 12.7 per cent y-o-y. Trade surplus stood at RM17.9 billion, 41.6 per cent higher compared with February 2020. This was the 10th consecutive month of trade surplus since May 2020.
On a month-on-month (m-o-m) basis, exports, imports and total trade posted a decrease of 2.3 per cent, 4.5 per cent and 3.3 per cent, respectively. In contrast, trade surplus increased by 7.6 per cent.
A. THE PERFORMANCE OF EXPORTS
Malaysia’s exports remained at a higher level, picked up sharply by 17.6 per cent to RM87.6 billion, compared to an increase of 6.6 per cent in January 2021. The expansion was driven by both domestic exports and re-exports. Domestic exports stood at RM71.4 billion contributed 81.6 per cent to the total exports, grew by 10.4 per cent. While, the re-exports which was value at RM16.1 billion, went up by 65.0 per cent y-o-y. In comparison to January 2021, exports declined by 2.3 per cent or RM2.1 billion. Analysis of the seasonally adjusted terms m-o-m, exports increased by 14.1 per cent or RM12.3 billion to RM99.2 billion.
B. THE PERFORMANCE OF IMPORTS
Malaysia’s imports in February 2021 totalled RM69.7 billion, registered strong double-digit growth of 12.7 per cent compared with the same month of 2020. However, in comparison to January 2021, imports posted a decrease of 4.5 per cent or RM3.3 billion. On m-o-m seasonally adjusted terms, imports increased 9.5 per cent.
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1. The February 2021 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
29 March 2021
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