KEY FACTS :
- On a year-on-year (y-o-y) basis, exports increased RM3.5 billion (+4.7%) to RM79.3 billion. Re-exports in December 2017 was valued at RM12.1 billion and accounted for 15.3% of total exports. Domestic exports grew 4.5% (+RM2.9 billion) to RM67.2 billion.
- On a y-o-y basis, imports expanded 7.9% or RM 5.2 billion to RM72.1 billion.
- On a month-on-month (m-o-m) basis, exports decreased RM4.2 billion (-5.0%) from RM83.5 billion. In seasonally adjusted terms, exports decreased 8.2%.
- On a m-o-m basis, imports declined RM1.5 billion (-2.0%) from RM73.6 billion. In seasonally adjusted terms, imports dropped 9.8%.
- On a y-o-y basis, export growth was supported by expansion in exports to Hong Kong (+RM1.6 billion), China (+RM1.3 billion), European Union (+RM853.0 million), Viet Nam (+RM589.7 million) and Republic of Korea (+RM512.5 million).
- On a y-o-y basis, higher imports were mainly from European Union (+RM2.6 billion), Singapore (+RM1.6 billion), Taiwan (+RM668.1 million), India (+RM519.9 million) and Saudi Arabia (+RM447.0 million).
- In January - December 2017, total exports registered an increase of 18.9% or RM148.4 billion to RM935.4 billion. Meanwhile, total imports also posted an increase of RM139.3 billion (+19.9%) to RM838.1 billion.
Total trade which was valued at RM151.4 billion grew RM8.8 billion or 6.2% from a year ago. However, it posted a decrease of RM5.7 billion or 3.6% when compared to the previous month. The trade surplus for December 2017 was RM7.3 billion and recorded a decrease of RM1.7 billion (-19.1%) from a year ago. It also declined RM2.7 billion or 27.2% when compared to the previous month.
On a y-o-y basis, exports increased 4.7% from RM75.8 billion. The main products contributing to the increase were:
- Electrical and electronic (E&E) products (36.2% of total exports), increased RM1.7 billion (+6.2%) to RM28.7 billion;
- Liquefied natural gas (LNG), which contributed 5.1% to total exports, grew RM188.2 million or 4.8% to RM4.1 billion due to the increase in export volume (+6.5%) although average unit value dropped 1.5%; and
- Crude petroleum, which contributed 3.4% to total exports, rose RM174.4 million or 6.9% to RM2.7 billion due to the increase in average unit value (+17.0%) although export volume declined 8.7%.
However, declines were recorded for the following products:
- Refined petroleum products, which accounted for 5.8% of total exports, shrank RM306.5 million or 6.2% to RM4.6 billion due to the decrease in export volume (-14.5%) as average unit value increased 9.7%;
- Timber and timber-based products, which accounted for 2.3% of total exports, reduced RM238.1 million or 11.4% to RM1.8 billion;
- Natural rubber (0.4% of total exports) decreased RM104.4 million or 24.4% to RM322.5 million due to the decline in both export volume (-15.3%) and average unit value (-10.8%); and
- Palm oil and palm oil-based products (8.0% of total exports), recorded a decline of RM24.7 million (-0.4%) to RM6.4 billion. Exports of palm oil, the major commodity in this group of products dropped RM400.2 million or 10.9% due to the decrease in average unit value (-11.3%) although export volume grew 0.4%.
On a m-o-m basis, exports decreased RM4.2 billion (-5.0%) from RM83.5 billion. The main products which contributed to the decline were:
- E&E products dropped RM3.0 billion or 9.4% from RM31.7 billion;
- Palm oil and palm oil-based products shrank RM446.9 million or 6.6% from RM6.8 billion. Exports of palm oil fell RM719.9 million (-18.0%) due to the decrease in both export volume (-15.3%) and average unit value (-3.3%); and
- Timber and timber-based products declined RM268.0 million or 12.7% from RM2.1 billion.
Nevertheless, the following products increased:
- LNG rose RM601.8 million or 17.3% from RM3.5 billion due to the increase in both export volume (+10.8%) and average unit value (+5.9%);
- Crude petroleum grew RM278.1 million or 11.4% from RM2.4 billion due to the increase in both average unit value (+6.2%) and export volume (+4.9%);
- Refined petroleum products increased RM233.7 million or 5.3% from RM4.4 billion due to the growth in both export volume (+3.6%) and average unit value (+1.7%); and
- Natural rubber went up RM9.2 million or 2.9% from RM313.3 million due to the increase in export volume of 9.3% as average unit value fell 5.8%.
Seasonally Adjusted Figure
On a m-o-m basis seasonally adjusted terms, exports reduced by RM6.6 billion (-8.2%) to RM74.6 billion.
On a y-o-y basis, imports increased 7.9% from RM66.8 billion. This growth was contributed by imports of capital goods.
Imports of capital goods, which accounted for 16.9% of total imports, increased RM3.2 billion (+35.2%) to RM12.2 billion due to the increase in both transport equipment, industrial (+RM3.0 billion, +534.3%) and capital goods (except transport equipment) (+RM225.0 million, +2.7%).
These goods which constituted 53.0% of total imports dropped RM256.8 million (-0.7%) to RM38.2 billion. The decrease was mainly attributed to industrial supplies, processed (-RM740.2 million, -4.8%), food & beverages, processed, mainly for industries (-RM311.2 million, -26.8%), and parts & accessories of capital goods (except transport equipment) (-RM205.9 million, -1.4%).
Imports of consumption goods which accounted for 8.6% of total imports recorded a decrease of RM162.8 million (-2.6%) to RM6.2 billion. The decline was mainly attributed to food & beverages, primary, mainly for household consumption (-RM118.5 million, -12.5%) and semi-durables (-RM60.2 million, -4.2%).
On a m-o-m basis, imports dropped RM1.5 billion or 2.0% from RM73.6 billion. The reduction in imports was contributed by intermediate goods and consumption goods.
These goods decreased RM2.2 billion (-5.4%) from RM40.4 billion. The main components attributing to the decline were industrial supplies, processed (-RM1.3 billion, -8.0%) and parts & accessories of capital goods (except transport equipment) (-RM521.2 million, -3.6%).
Imports of consumption goods declined RM331.5 million (-5.1%) from RM6.6 billion. The decrease was due to food & beverages, processed, mainly for household consumption (-RM115.3 million, -6.3%) and non-durables (-RM111.2 million, -7.4%).
Imports of capital goods surged RM1.9 billion or 18.5% from RM10.3 billion due to the increase in transport equipment, industrial (+RM3.0 billion, +669.8%). However, capital goods (except transport equipment) dropped RM1.1 billion or 11.6%.
Seasonally Adjusted Figure
On a m-o-m basis seasonally adjusted terms, imports fell RM7.5 billion (-9.8%) to RM69.0 billion.
The following charts show Malaysia's major trading partners for January- December 2017
Total Trade by Major Countries, Jan- Dec 2017, percentage share
Exports and Imports by Major Countries, Jan- Dec 2017, percentage share
The following charts show Malaysia's trade with ASEAN countries for January - December 2017
Exports, Jan - Dec 2017, percentage share
Imports, Jan- Dec 2017, percentage share
# The December 2017 data is provisional and subject to revision in later issues.
THE OFFICE OF CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
07 FEBRUARY 2018
Ho Mei Kei
Public Relation Officer
Strategic Communication and International Division
Department of Statistics, Malaysia
Tel : +603-8885 7942
Fax : +603-8888 9248
Email : mkho[at]stats.gov.my