KEY FACTS

• In February 2020, exports expanded 11.8% to RM74.5 billion year-on-year (y-o-y). Re-exports was valued at RM9.8 billion which dropped 6.3% and accounted for 13.1% of total exports. However, domestic exports recorded an increase of 15.2% or RM8.5 billion to RM64.7 billion.
• On a y-o-y basis, imports rose RM6.3 billion (+11.3%) to RM61.8 billion.
• On a month-on-month (m-o-m) basis, exports decreased RM9.7 billion (-11.5%) from RM84.1 billion. In seasonally adjusted terms, exports registered a decline of 0.1%.
• On a m-o-m basis, imports posted a decrease of RM10.2 billion (-14.2%) from RM72.1 billion. In seasonally adjusted terms, imports fell 2.0%.
• On a y-o-y basis, export growth was contributed by expansion in exports to Singapore (+RM2.1 billion), the United States (+RM1.6 billion), Republic of Korea (+RM1.2 billion), China (+RM935.4 million) and Taiwan (+RM430.4 million). 
• On a y-o-y basis, higher imports were mainly from the United States (+RM989.7 million), India (+RM859.2 million), Taiwan (+RM705.3 million), Republic of Korea (+RM662.1 million) and China (+RM591.9 million).

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.

EXPORTS

On a y-o-y basis, exports increased 11.8% to RM74.5 billion. The main products which contributed to the increase were:

• Refined petroleum products, which contributed 5.9% to total exports, shot up RM788.1 million or 21.7% to RM4.4 billion due to the increase in export volume (+26.9%) despite the average unit value decreased 4.1%;
• Palm oil and palm oil-based products (7.3% of total exports), surged RM692.7 million (+14.7%) to RM5.4 billion. Exports of palm oil, the major commodity in this group of products rose RM458.1 million or 17.1% due to the growth in average unit value (+31.3%) despite the export volume dropped 10.8%;
• Timber and timber-based products (2.6% of total exports) increased RM575.9 million or 41.8% to RM2.0 billion;
• Liquefied natural gas (LNG), which accounted for 4.5% of total exports grew RM222.2 million or 7.1% to RM3.4 billion due to the increase in export volume (+24.2%) although average unit value declined 13.8%; and
• Natural rubber, which contributed 0.4% to total exports, rose RM77.5 million or 33.2% to RM310.5 million due to the growth in both export volume (+26.2%) and average unit value (+5.6%).

However, declines were recorded for the following products:

• Electrical and electronic (E&E) products (33.7% of total exports), dropped RM707.9 million (-2.7%) to RM25.1 billion; and
• Crude petroleum, which contributed 2.3% to total exports fell RM222.6 million or 11.7% to RM1.7 billion due to the decrease in export volume (-19.1%) as average unit value grew 9.2%.

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:

• E&E products decreased RM7.3 billion (-22.6%) from RM32.4 billion;
• Refined petroleum products fell RM1.6 billion or 26.1% from RM6.0 billion due to the lower in both export volume (-15.4%) and average unit value (-12.6%); 
• LNG, shrank RM619.6 million (-15.5%) from RM4.0 billion due to the drop in export volume (-15.6%) as average unit value increased 0.1%; 
• Crude petroleum decreased RM512.2 million or 23.3% from RM2.2 billion due to the decline in both export volume (-19.6%) and average unit value (-4.6%); 
• Palm oil and palm oil-based products declined RM83.8 million or 1.5% from   RM5.5 billion. Exports of palm oil shrank RM98.7 million or 3.0% due to the decrease in export volume (-6.1%) as average unit value increased 3.2%; and
• Timber and timber-based products, dropped marginally by RM3.8 million (-0.2%) from RM2.0 billion. 

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:

• Refined petroleum products which contributed 18.3% of total exports increased RM997.7 million (+95.8%) to RM2.0 billion; and
• Palm oil and palm oil-based products which contributed 2.2% of total exports went up RM101.6 million (+71.1%) to RM244.7 million.

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:

• Palm oil and palm oil-based products which contributed 7.3% of total exports grew RM144.1 million (+26.4%) to RM691.0 million; and
• Timber and timber-based products which contributed 1.6% of total exports increased RM73.3 million (+92.7%) to RM152.5 million.

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

IMPORTS

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

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%).

• Consumption Goods

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%. 

• Capital Goods

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.

• Capital Goods

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%).

• Consumption Goods

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%).

• Intermediate Goods

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