Exports in November 2020 was valued at RM84.4 billion, expanded by 4.3 per cent as compared with November 2019. Imports declined by 9.0 per cent from RM74.3 billion to RM67.6 billion. Significant decrease in imports has resulted in a higher trade surplus of RM16.8 billion, surged by 151.6 per cent year-on-year (y-o-y). Against the backdrop of challenging global economic conditions due to COVID-19 effects, Malaysia’s total trade in November 2020 declined by 2.0 per cent from RM155.2 billion in November last year to RM152.0 billion.
On a month-on-month (m-o-m) basis, exports, imports, total trade and trade balance recorded a decrease of 7.3 per cent, 1.9 per cent, 5.0 per cent and 24.0 per cent respectively.
- Exports in November 2020 stood at RM84.4 billion, increased by 4.3 per cent y-o-y, surpassing imports growth for seven consecutive months. In comparison to October 2020, exports shrank by 7.3 per cent.
- For the first 11 months of 2020, exports declined by 2.6 per cent from RM908.6 billion to RM885.0 billion.
- Expansion in exports was supported mainly by higher exports to the United States, Singapore, China, Hong Kong and the European Union.
- Exports of manufactured goods amounted to RM74.3 billion, made up 88.1 per cent of total exports, increased by 8.1 per cent y-o-y. Exports of agriculture goods, which represented 6.7 per cent of total exports expanded by 6.0 per cent from RM5.3 billion to RM5.6 billion. Meanwhile, exports of mining goods was lower by 34.6 per cent or RM2.2 billion to RM4.1 billion and accounting for 4.9 per cent of total exports.
- Malaysia’s imports in November 2020 was valued at RM67.6 billion, shrank by 9.0 per cent or RM6.7 billion compared with November 2019. This was the ninth consecutive month of decrease since March 2020. On m-o-m basis, imports also shrank by 1.9 per cent from RM68.9 billion.
- In the period of January to November 2020, Malaysia’s imports contracted by 7.0 per cent or RM54.4 billion to RM721.2 billion compared with same period in 2019.
- In November 2020, the declining imports were from Singapore, the European Union, the United Arab Emirates, China and the United States contributed to the decrease in Malaysia’s total imports.
- Imports of manufactured goods in November 2020 amounted to RM58.5 billion, comprised 86.6 per cent of total imports, declined by 11.1 per cent y-o-y. Imports of agriculture goods (6.1% of total imports) increased by 15.5 per cent from RM3.6 billion to RM4.2 billion, while imports of mining goods with a share of 4.3 per cent from the total imports, dropped by 3.9 per cent from RM3.4 billion to RM2.9 billion.
- All the three main categories of imports by end use registered a decline. Intermediate goods valued at RM36.6 billion or 54.2 per cent share of total imports, decreased by 10.6 per cent y-o-y. Capital goods amounted to RM7.2 billion or 10.6 per cent of total imports, decreased by 26.5 per cent . Imports of consumption goods went down by 7.2 per cent to RM6.3 billion and comprised of 9.3 per cent from the total imports.
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1. The November 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
28 December 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
E-mail : yusrizal.razak[at]dosm.gov.my