KEY FACTS
TRADE
Total trade which was valued at RM136.3 billion increased RM14.1 billion or 11.6% as compared to February 2019. However, it fell RM19.9 billion or 12.7% when compared to January 2020. The trade surplus was RM12.6 billion, increased RM1.6 billion (+14.1%) from a year ago. It was also increased by RM586.5 million (+4.9%) when compared to the previous month.
On a y-o-y basis, exports increased 11.8% to RM74.5 billion. The main products which contributed to the increase were:
However, declines were recorded for the following products:
On a m-o-m basis, exports dropped RM9.7 billion (-11.5%) from RM84.1 billion. The main products which attributed to the decrease were:
Nevertheless, exports of natural rubber, registered an increase of RM36.9 million or 13.5% from RM273.7 million due to the growth in both export volume (+13.1%) and average unit value (+0.3%).
Exports to Country of Destination
The two major destinations for Malaysia’s exports in February 2020 were Singapore and China.
Exports to Singapore amounted to RM11.2 billion, surged RM2.1 billion (+22.5%) as compared to the previous year.The main products which attributed to the rose were:
However, exports of E&E products reduced RM111.4 million or 2.5% to RM4.4 billion.
Exports to China which were valued at RM9.4 billion grew RM935.4 million (+11.0%). The main products which attributed to the increase were:
Seasonally Adjusted Export Value
On a m-o-m basis seasonally adjusted terms, exports decreased RM86.5 million (-0.1%) to RM83.4 billion.
Exports, 2016-2020
On a y-o-y basis, imports expanded RM6.3 billion or 11.3% to RM61.8 billion. The growth in imports by end use was mainly attributed to intermediate goods and consumption goods.
Intermediate goods which constituted 62.1% of total imports rose RM6.5 billion (+20.4%) to RM38.4 billion. The increase was mainly contributed by parts & accessories of capital goods (except transport equipment) (+RM3.0 billion, +27.7%), fuel & lubricants, processed, others (+RM1.8 billion, +185.7%) and industrial supplies, processed (+RM1.3 billion, +11.0%).
Imports of consumption goods which constituted 8.1% of total imports recorded an increase of RM462.3 million (+10.1%) to RM5.0 billion. The increase was mainly attributed to food & beverages, processed, mainly for household consumption (+RM302.2 million, +23.2%) and food & beverages, primary, mainly for household consumption (+RM254.0 million, +45.1%). However, semi-durables declined RM209.8 million or 24.1%.
Imports of capital goods, which accounted for 8.9% of total imports, dropped RM1.1 billion (-16.9%) to RM5.5 billion due to the decline in both capital goods (except transport equipment) (-RM611.4 million, -10.6%) and transport equipment, industrial (-RM507.1 million, -61.9%).
On a m-o-m basis, imports decreased RM10.2 billion or 14.2% from RM72.1 billion. All main categories of imports by end use recorded decreases.
Imports of capital goods fell RM2.2 billion (-28.3%) from RM7.7 billion due to the decrease in both capital goods (except transport equipment) (-RM2.0 billion, -27.7%) and transport equipment, industrial (-RM181.9 million, -36.9%).
These goods registered a decrease of RM1.4 billion (-22.3%) from RM6.5 billion. The decline was due to semi-durables (-RM530.2 million, -44.5%), durables (-RM280.6 million, -34.0%), non-durables (-RM263.6 million, -16.6%) and food & beverages, primary, mainly for household consumption
(-RM253.8 million, -23.7%).
Imports of intermediate goods dropped RM454.3 million (-1.2%) fromRM38.8 billion. The main components attributed to the decrease were industrial supplies, processed (-RM2.9 billion, -17.8%) and fuel & lubricants, primary (-RM1.9 billion, -41.7%). Nevertheless, parts & accessories of capital goods (except transport equipment) recorded an increase of RM3.9 billion (+40.2%).
Imports by Country of Origin
The two main sources of Malaysia’s import in February 2020 were China and Singapore.
Imports from China amounted to RM9.8 billion, increased RM591.9 million (+6.5%) as compared to the previous year. The main product which attributed to the rise was E&E products (44.1% of total imports), increased RM953.5 million or 28.5% to RM4.3 billion. However, imports of refined petroleum products decreased RM453.7 million or 29.0% to RM1.1 billion.
Imports from Singapore amounted to RM6.2 billion shot up RM230.9 million (+3.9%) from a year ago. The main product which attributed to the growth was refined petroleum products (30.6% of total imports), increased RM298.3 million or 18.7% to RM1.9 billion.
Seasonally Adjusted Import Value
On a m-o-m basis seasonally adjusted terms, imports decreased RM1.4 billion (-2.0%) to RM70.1 billion.
Imports, 2016-2020
MARKET SHARE
The following charts show Malaysia's major trading partners for January - February 2020.
Total Trade by Major Countries, Jan-Feb 2020, percentage share
Exports and Imports by Major Countries, Jan 2020, percentage share
The following charts show Malaysia’s trade with ASEAN countries for January-February 2020.
Exports, Jan-Feb 2020, percentage share
Imports, Jan-Feb 2020, percentage share
#Notes:
1. The February 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.
Released By:
DATO' SRI DR. MOHD UZIR MAHIDIN
CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
DrUzir_Mahidin
Dr_Uzir
3 APRIL 2020
Contact person:
Mohd Yusrizal Ab Razak
Public Relation Officer
Strategic Communication and International Division
Department of Statistics, Malaysia
Tel : +603-8885 7942
Fax : +603-8888 9248
Email : yusrizal.razak[at]dosm.gov.my