Malaysia’s total trade in March 2021 experienced notable surge of 25.6 per cent reaching RM185.7 billion as compared to the same month last year. Exports remained at a higher level, increasing by 31.0 per cent to RM104.9 billion compared with March 2020. This was the strongest year-on-year (y-o-y) growth in 44 months. Imports in March 2021 which was valued at RM80.8 billion expanded by 19.2 per cent y-o-y. Trade surplus stood at RM24.2 billion or 96.1 per cent higher compared with March 2020. This was the 11th consecutive month of trade surplus since May 2020.
On a month-on-month (m-o-m) basis, exports, imports, total trade and trade surplus in March 2021 also strengthened by 19.8 per cent, 15.9 per cent, 18.1 per cent and 35.1 per cent, respectively.
Total trade reached RM505.6 billion or 14.8 per cent in the first quarter (Q1) 2021, increased from RM440.4 billion compared to the same period last year, the rise was accompanied by the increase in exports and imports of RM43.5 billion or 18.2 per cent and RM21.8 billion or 10.8 per cent respectively. Concurrently, domestic exports rose by 18.0 per cent to RM230.6 billion from RM195.3 billion and re-exports grew by 19.0 per cent to RM51.6 billion from RM43.3 billion.
A. THE PERFORMANCE OF EXPORTS
Malaysia’s exports remained at a higher level, picked up sharply by 31.0 per cent to RM104.9 billion compared to an increase of 17.6 per cent in February 2021. The expansion was driven by both domestic exports and re-exports. Domestic exports which stood at RM87.0 billion contributed 82.9 per cent to the total exports and grew by 38.5 per cent. While, re-exports which was value at RM17.9 billion, went up by 3.7 per cent y-o-y. In comparison to February 2021, exports grew by 19.8 per cent or RM17.9 billion. Analysis of the seasonally adjusted terms m-o-m, exports increased by 3.2 per cent or RM3.2 billion to RM102.4 billion
Chart 1: Domestic Exports, Re-Exports (RM billion) and Annual Change (%)
Chart 2: Actual Export Value and Seasonally Adjusted Export Value, RM billion
B. THE PERFORMANCE OF IMPORTS
Malaysia’s imports in March 2021 totalled RM80.8 billion, registered a strong double-digit growth of 19.2 per cent compared with the same month of 2020. On a m-o-m basis, imports grew by 15.9 per cent or RM11.1 billion. Based on seasonally adjusted terms, imports increased 3.9 per cent. On a y-o-y basis, imports by end use registered an increase with the rise of the intermediate goods, capital goods and consumption goods.
Chart 5: Imports, Value (RM billion) and Annual Change (%)
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1. The March 2021 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 April 2021
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