Malaysia’s total trade continued to grow with a double-digit growth in October 2022, surged by 21.1 per cent, reaching RM245.2 billion as compared to RM202.4 billion in the preceding year. Exports increased by 15.0 per cent to RM131.6 billion in October 2022. Imports amounted at RM113.5 billion rose by 29.2 per cent year-on-year (y-o-y). Trade balance remained to record a surplus with a value of RM18.1 billion, despite the decrease of 32.0 per cent from the previous year.
In comparison to September 2022, imports showed a marginal increase of 1.0 per cent, while exports, total trade and trade balance decreased by 8.7 per cent, 4.5 per cent and 43.2 per cent respectively.
For the period of January to October 2022, the performance of total trade, exports and imports remained sturdy with double-digit growth. Total trade grew by 31.6 per cent, underpinned by the expansion in exports (+28.5%) as well as imports (+35.4%) while trade surplus grew 1.3 per cent.
A. PERFORMANCE OF EXPORTS
Malaysia’s exports was recorded at RM131.6 billion, increased by 15.0 per cent as compared to October 2021. The increase was driven by both domestic exports and re-exports. Domestic exports stood at RM101.2 billion and contributed 76.9 per cent to total exports, grew by 10.8 per cent. On the same note,re-exports with a value of RM30.4 billion, grew by 31.6 per cent y-o-y. Meanwhile, for monthly comparison, exports declined by 8.7 per cent or RM12.6 billion. Analysis of the seasonally adjusted terms month-on-month (m-o-m), exports decreased by 14.3 per cent or RM20.3 billion to RM122.4 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 October 2022 continued to register an increase of 29.2 per cent or RM25.6 billion, reaching RM113.5 billion. On a m-o-m basis, imports rise marginally by 1.0 per cent or RM1.1 billion. Based on seasonally adjusted terms m-o-m, imports decreased by 2.1 per cent to RM110.8 billion.
Chart 3: Imports, Value (RM billion) and Annual Change (%)
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1. The October 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
17 November 2022
Public Relation Officer
Strategic Communication and International Division
Department of Statistics, Malaysia
Tel : +603-8885 7942
Fax : +603-8888 9248