Malaysia’s total international trade in services grew at 6.5 per cent to record RM311.7 billion in 2016. This represents 25.3 per cent of GDP at current prices. Exports of services posted RM146.3 billion, increased by 7.5 per cent compared to the preceding year. Meanwhile, imports of services rose by 5.5 per cent to record RM165.4 billion. Higher services exports has led to a lower trade deficit of RM19.1 billion from RM20.6 billion in the previous year.
MAJOR SERVICES COMPONENTS
Four major services components are travel, transport, telecommunications, computer & information and other business services. On the exports side, these four components accounted for 85.8 per cent (2015: 86.1%), while for imports the share was 78.6 per cent (2015: 79.4%).
MAJOR TRADING PARTNER
Top five countries contributed to the exports of services were Singapore, USA, Indonesia, China and United Kingdom. As for imports, the major trading partners were mainly from Singapore, China, USA, Japan and Thailand.
THE OFFICE OF CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
4 August 2017
Ho Mei Kei
Public Relation Officer
Corporate and User Services Division
Department of Statistics, Malaysia
Tel : +603-8885 7942
Fax : +603-8888 9248
Email : mkho[at]stats.gov.my