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:
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.
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%).
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.
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
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.
DATO' SRI DR. MOHD UZIR MAHIDIN
CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
3 APRIL 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
Email : yusrizal.razak[at]dosm.gov.my