Perbadanan Pembangunan Perdagangan Luar Malaysia

The Highest Trade, Exports and Imports Recorded for the Month of May

Malaysia’s trade performance maintained its upward trend in May 2021 with trade expanding by 48.7% to RM170.88 billion compared to May 2020. Exports surged by 47.3% to RM92.31 billion, the ninth consecutive month of year-on-year (y-o-y) expansion since September 2020. Imports rose by 50.3% to RM78.57 billion and trade surplus expanded by 32.3% to RM13.74 billion. Trade, exports and imports recorded the highest monthly value for the month of May and registered double-digit growth for four consecutive months.

The export growth was contributed mainly by robust demand for electrical and electronic (E&E) products mainly semiconductors due to the increasing orders for work-from-home equipment and digitalisation of businesses, rubber products as well as petroleum products. All major markets namely ASEAN, China, the United States (US), the European Union (EU) and Japan registered positive export growth.

On a month-on-month (m-o-m) basis, trade, exports, imports and trade surplus contracted by 10.4%, 12.6%, 7.8% and 32.5%, respectively.

Trade for the first five months of 2021 grew by 26% to RM867.4 billion, compared to the same period of 2020. Exports rose by 31.1% to RM480.09 billion and imports increased by 20.1% to RM387.31 billion. Trade surplus surged by 112.2% to RM92.79 billion.

 

Export Performance of Major Sectors

Robust Export Performance Recorded in All Sectors

In May 2021, exports of all three sectors recorded double-digit growth with almost all products registered increases.

Exports of manufactured goods which accounted for 85.4% of total exports, surged by 45.4% y-o-y to RM78.83 billion and was the sixth consecutive month of double-digit growth. All manufactured products recorded positive growth while strong demand were seen for E&E products, rubber products, petroleum products, manufactures of metal as well as chemicals and chemical products, with exports expanding more than RM1 billion, respectively.

Exports of agriculture goods (8.1% share) grew by 51.7% to RM7.49 billion compared to May 2020 driven mainly by higher exports of palm oil and palm oil-based agriculture products.

Exports of mining goods (6.1% share) registered double-digit growth for two straight months to reach RM5.66 billion, surged by 76% y-o-y. This was the fastest export growth recorded since October 2011. The expansion was underpinned by higher exports of crude petroleum and liquefied natural gas (LNG). Exports of LNG picked up by 45.2% to RM2.98 billion after registering negative growth since March 2020.

 

Major exports in May 2021:

• E&E products, valued at RM31.56 billion and constituted 34.2% of total exports, increased by 34.3% from May 2020;

• Petroleum products, RM6.9 billion, 7.5% of total exports, increased by 75.1%;
• Rubber products, RM6.31 billion, 6.8% of total exports, surged by 133.2%;
• Palm oil and palm oil-based agriculture products, RM5.78 billion, 6.3% of total exports, increased by 60.5%; and
• Chemicals and chemical products, RM5.25 billion, 5.7% of total exports, increased by 42.5%.

Compared to April 2021, exports of manufactured, agriculture and mining goods were down by 14%, 4.6% and 0.2%, respectively.

For the period of January to May 2021, exports of manufactured goods expanded by 34.3% to RM418.03 billion compared to the same period of 2020, due to higher exports of E&E products, rubber products, manufactures of metal, chemicals and chemical products, machinery, equipment and parts as well as petroleum products. Exports of agriculture goods was up by 31.8% to RM33.51 billion following higher exports of palm oil and palm oil-based agriculture products. Exports of mining goods was valued at RM26.69 billion, contracted by 2.8% as a result of lower exports of LNG.

 

Trade Performance with Major Markets

ASEAN – Double-Digit Growth in Trade, Exports and Imports

In May 2021, trade with ASEAN grew by 54.2% y-o-y to RM43.33 billion, accounted for 25.4% of Malaysia’s total trade. Exports sustained double-digit growth since February 2021, increasing by 49.4% to RM25.66 billion. The expansion was contributed by higher exports of E&E products, petroleum products as well as crude petroleum. Imports from ASEAN increased by 61.8% to RM17.67 billion.

Breakdown of exports to ASEAN countries:

• Singapore RM13.02 billion, increased by 46.2%
• Thailand RM4.07 billion, ↑29.6%
• Viet Nam RM3.30 billion, ↑53%
• Indonesia RM2.96 billion, ↑106%
• Philippines RM1.72 billion, ↑85.6%
• Brunei RM363.2 million, ↑93.8%
• Cambodia RM134.2 million, ↑15.6%
• Myanmar RM88.2 million, ↓71.6%
• Lao PDR RM5.8 million, ↓1.2%

Exports to major markets in ASEAN that recorded expansion were Singapore which increased by RM4.12 billion due to higher exports of E&E products, Thailand (↑RM930.4 million, crude petroleum), Viet Nam (↑RM1.14 billion, E&E products), Indonesia (↑RM1.52 billion, petroleum products) and the Philippines (↑RM795 million, palm oil and palm oil-based agriculture products).

Compared to April 2021, trade, exports and imports declined by 13%, 15.9% and 8.6%, respectively.

In the first five months of 2021, trade with ASEAN expanded by 29.5% to RM224.94 billion compared to the same period of 2020. Exports to this region rose by 27% to RM134.88 billion buoyed by higher exports of E&E products, chemicals and chemical products, machinery, equipment and parts as well as manufactures of metal. Imports from ASEAN expanded by 33.4% to RM90.06 billion.

 

China – Double-Digit Export Growth for Seventh Consecutive Month

In May 2021, trade with China rose by 40.8% y-o-y to RM33.44 billion, accounting for 19.6% of Malaysia’s total trade. Exports to China recorded the seventh consecutive month of double-digit growth, rose by 17.7% to RM13.87 billion. This was contributed by higher exports of E&E products, LNG, other manufactures especially solid-state storage devices (SSD) as well as chemicals and chemical products. Imports from China grew by 63.6% to RM19.57 billion.

On a m-o-m basis, trade, exports and imports recorded negative growth of 6.1%, 10.2% and 3%, respectively.

Trade with China during the period of January to May 2021 expanded by 34.1% to RM161.6 billion compared to the same period of 2020. Exports rose by 30.5% to RM71.31 billion attributed to higher exports of E&E products, manufactures of metal as well as LNG. Imports from China increased by 37.2% to RM90.28 billion.

 

The US – Exports Maintained Double-Digit Growth

Trade with the US in May 2021 increased by 34.3% y-o-y to RM16.46 billion, constituting 9.6% of Malaysia’s total trade. Exports rose by 46.5% to RM10.39 billion following higher shipments of manufactured goods especially rubber products, E&E products, optical and scientific equipment, machinery, equipment and parts as well as wood products. This was the 12th consecutive month of double-digit growth since June 2020. Imports from the US expanded by 17.6% to RM6.07 billion.

Compared to April 2021, trade, exports and imports edged down by 9.9%, 14.5% and 0.8%, respectively.

During the first five months of 2021, trade with the US rose by 29.2% to RM83.96 billion compared to the same period of 2020. Exports surged by 51.5% to RM55.15 billion owing to higher exports of rubber products, E&E products, wood products as well as optical and scientific equipment. Imports from the US was up by 0.8% to RM28.81 billion.

 

The EU – Six Consecutive Months of Double-Digit Export Growth

Trade with the EU which accounted for 7.8% of Malaysia’s total trade in May 2021 expanded by 33.9% y-o-y to RM13.4 billion. Exports recorded six consecutive months of double-digit expansion, increased by 33.5% to RM7.5 billion driven by higher exports of rubber products, E&E products and manufactures of metal. Imports from the EU rose by 34.4% to RM5.9 billion.

Breakdown of exports to the top 10 EU markets which accounted for 90.7% of Malaysia’s total exports to the EU were:

• Netherlands RM2.35 billion, increased by 46.6%
• Germany RM2.04 billion, ↑25.3%
• Italy RM485.8 million, ↑40.6%
• Belgium RM409.4 million, ↑55.7%
• France RM358.3 million, ↑0.4%
• Spain RM350.2 million, ↑18.8%
• Slovenia RM240.0 million, ↑175.6%
• Poland RM236.2 million, ↑58%
• Czech Republic RM168.1 million, ↓4.8%
• Sweden RM167.0 million, ↑103.3%

Exports to the EU major markets that recorded growth notably the Netherlands, which increased by RM745 million due to higher exports of E&E products and Germany, expanded by RM412.3 million attributed to growing demand for rubber products.

On a month-on-month basis, trade, exports and imports were down by 10%, 15.2% and 2.4%, respectively.

During January to May 2021, trade with the EU expanded by 27.4% to RM70.47 billion from the same period of 2020. Exports grew by 35.1% to RM41.95 billion supported by higher exports of rubber products and E&E products. Imports from the EU increased by 17.6% to RM28.52 billion.

 

Japan – Fourth Consecutive Month of Export Expansion

In May 2021, trade with Japan which comprised 6.9% of Malaysia’s total trade increased by 47.7% y-o-y to RM11.78 billion. Exports surged by 52.6% to RM6.12 billion, the fourth straight month of expansion since February 2021. This was buoyed by higher exports of E&E products, LNG, manufactures of metal and rubber products. Exports of LNG rebounded by 64.3% to RM1.38 billion after registering negative growth since January 2021. Imports from Japan grew by 42.7% to RM5.66 billion.

On a m-o-m basis, trade, exports and imports decreased by 11%, 1.4% and 19.4%, respectively.

For the period of January to May 2021, trade with Japan was up by 24% to RM61.86 billion compared to the same period of 2020. Exports rose by 20.6% to RM31.28 billion on account of higher exports of E&E products, rubber products and manufactures of metal. Imports from Japan expanded by 27.7% to RM30.58 billion.

 

Trade with FTA Partners

In May 2021, trade with Free Trade Agreement (FTA) partners which made up 67.8% of Malaysia’s total trade increased by 51.8% y-o-y to RM115.8 billion. Exports to FTA partners rose by 46.6% to RM62.67 billion and imports expanded by 58.5% to RM53.13 billion.

Increase in exports was recorded to Hong Kong SAR, by 20.6% to RM4.99 billion due to higher exports of E&E products, India (↑405.3% to RM3.77 billion, palm oil and palm oil-based agriculture products), Australia (↑102.7% to RM3.21 billion, petroleum products), the Republic of Korea (↑33.6% to RM3.14 billion, iron and steel products), Turkey (↑139.6% to RM1.2 billion, manufactures of metal), Pakistan (↑53.7% to RM406.4 million, chemicals and chemical products), New Zealand (↑54.7% to RM230.7 million, E&E products) and Chile (↑91.7% to RM82.3 million, rubber products).

Compared to April 2021, trade, exports and imports reduced by 9%, 10.5% and 7.2%, respectively.

Trade with FTA partners for the first five months of 2021 which accounted for 67.1% of Malaysia’s total trade rose by 26.2% to RM582.03 billion compared to the same period of 2020. Exports expanded by 27.4% to RM321.28 billion and imports grew by 24.6% to RM260.75 billion.

 

Import Performance

Total imports in May 2021 expanded by 50.3% y-o-y to RM78.57 billion from May 2020. The three main categories of imports by end use which accounted for 80.2% of total imports were:

• Intermediate goods, valued at RM46.93 billion or 59.7% of total imports, increased by 52.4%, following higher imports of processed industrial supplies particularly iron and steel;
• Capital goods, valued at RM8.92 billion or 11.4% of total imports, grew by 34%, due mainly to higher imports of capital goods (except transport equipment), primarily parts of machinery and mechanical appliances; and
• Consumption goods, valued at RM7.14 billion or 9.1% of total imports, rose by 37.8%, as a result of higher imports of durables, especially jewellery.

During January to May 2021, imports increased by 20.1% to RM387.31 billion from the same period of 2020. Imports of intermediate goods grew by 22.7% to RM214.82 billion, capital goods (RM41.4 billion, ↑5.9%) and consumption goods (RM34.26 billion, ↑19%).

THURSDAY, JUNE 10^TH, 2021, KUALA LUMPUR:  Malaysia External Trade Development Corporation (MATRADE) under the Ministry of International Trade and Industry (MITI) today announced five (5) additional initiatives under the MDG, amidst COVID-19, aimed to ensure Malaysian exporters remain resilient and can sustain themselves during this challenging period.

“Malaysian SMEs have been very active in promoting their products and services globally through partnership with international buyers. Covid-19 pandemic has much affected their business health, including curtailing their exports’ growth. The Government, through MITI and its agency MATRADE, supports our SMEs’ efforts through Market Development Grant (MDG), which was introduced in 2002, with the objective of enhancing the facilitation in export activities. With our continuous efforts to sustain our SMEs in the global market, additional initiatives on MDG are being introduced to cope with this devastating challenge”, said Encik Mohd Mustafa Abdul Aziz, Chief Executive Officer of MATRADE.

The six (6) initiatives of MDG to cushion the impact of covid-19 on our SMEs exporters are as follows:

1. Addressing the increase cost for export;
2. Facilitating participation in virtual event: international trade fair/ exhibition locally and overseas;
3. Addressing the loss due to cancellation or postponement of export promotion activities;
4. International Certification registration for export;
5. Intellectual Property (IP) registration for international market; and
6. Branding and advertising for exports that include through digital platforms.

From March 2020, that is when pandemic covid-19 was officially announced by the government, to the end of May this year, MATRADE had assisted 1,350 Malaysian SME exporters with a total of 6,810 activities, covering industries including such as furniture, palm oil products, medical products, wood products, prepared foods, machinery & equipment and engineering services. RM2.6 billion of total export was reported by these SMEs during this period. The assistance had enabled our SMEs to export their products in markets including Japan, South Korea, People’s Republic of China, Brunei, Myanmar, Laos, Indonesia, The Philippines, Canada, France, UK, UAE and Saudi Arabia.  

MATRADE urged more SMEs exporters to come forward and be part of the programme. These MDG’s initiatives will commence from 15^th July 2021 until end of this year. SMEs are urged to register with MATRADE as members, to enable them be more involved in MATRADE’s export promotion programmes. The membership is complimentary and registration can be via www.matrade.gov.my.

For further information on MDG, please visit this link https://www.matrade.gov.my/en/malaysian-exporters/services-for-exporters/exporters-development/market-development-grant-mdg  or you can contact us at MDG Secretariat through telephone number 603 6207 7077/7593 or email at Alamat emel ini dilindungi dari Spambot. Anda perlu hidupkan JavaScript untuk melihatnya..

WEDNESDAY, 16 JUNE 2021, KUALA LUMPUR - MATRADE will once again organise its signature programme known as the National Export Day via digital platform this year.  The e-National Export Day (eNED@2021), themed ‘Reignite Your Exports’, will be live stream from 13 to 15 July 2021, to address the needs for Malaysian companies to manoeuvre through the challenging pandemic time to revitalise their export business.

The 3-day event will be officiated by the Honourable Senior Minister and Minister of International Trade and Industry, YB Dato’ Seri Mohamed Azmin Ali, who will deliver a keynote address on “Reinventing Business in the Pandemic and Beyond”.

The event agendas include CEO plenary sessions and panel discussions on topics related to business agility, export facilitation financing, digitalisation, sustainability as well as global market opportunities. All these topics are crucial to Malaysian exporters given the disruptive environment they currently face.  Some of the prominent industry leaders and panellists featured in the eNED@2021 are Datuk Nik Mohd Hasyudeen Yusoff, Datuk Michael Kang and Dr. Mohd Afzanizam Abdul Rashid.

“eNED@2021 is a programme not-to-be-missed by Malaysian companies as it is the largest exporters virtual gathering which brings in trade experts, export thought leaders, speakers and panellists including MATRADE Trade Commissioners who will share valuable insights on latest market trends, opportunities and effective strategies, in light of the ongoing imminent challenge for most businesses to survive during this pandemic time, said MATRADE Chief Executive Officer, Mr. Mohd Mustafa Abdul Aziz.

The first day of eNED@2021 will commence with a high-level plenary session between CEOs and top corporate executives which will discuss on the current global scenario affecting Malaysia’s trade interests and future export growth.  The session will explore practical measures on how to reignite exports in the new normal environment.  This will be followed by two panel discussions deliberating on the need by Malaysian companies to develop agile business strategies to ensure success in the global marketplace, as well as on the various platforms of financing for facilitating export growth.  

Day Two will highlight pertinent topics on sustainability and digitalisation.  Malaysian companies should leverage on sustainability as unique value proposition in positioning themselves globally as preferred sourcing partners and to stay ahead of competitors. Moreover, Google as the eNED@2021 event partner will provide insights on how the adoption of the digitalisation and technology based tools such as cross border E-Commerce and digital marketing could help Malaysian companies to expand exports.

The third and final day of eNED@2021 will present two interesting panel sessions with MATRADE Trade Commissioners from key markets to deliberate on the further impact of the US-China trade conflict, how Malaysian companies shall pursue the arising opportunities, as well as to benefit greater market access from the largest free trade agreement, the Regional Comprehensive Economic Partnership (RCEP).

“We expect another high response of Malaysian companies to the eNED@2021.  This year’s theme will call on Malaysian companies to gear up efforts to continue the recovery and growth momentum to revitalise exports by leveraging on sustainability, digitalisation as well as free trade agreements like RCEP.  These will enable Malaysian companies to continue enhancing presence in the spotlight of the international trade despite the current challenging time”, added Mr. Mohd Mustafa.

More than 2,000 Malaysian companies are expected to participate in eNED@2021. Registration to the event can be done online at www.exportday.my

Trade, Exports and Imports Continued to Mark a New High

Malaysia’s trade performance maintained its strong growth momentum in April 2021, outperformed March with another record of new high for trade, exports and imports monthly value. Trade grew by 43.2% to RM190.76 billion compared to April 2020. Exports maintained above RM100 billion for two consecutive months, reaching RM105.62 billion and surged by 63%. This was the fastest growth since February 1998 and the eighth consecutive month of year-on-year (y-o-y) expansion since September 2020. Imports increased by 24.4% to RM85.14 billion and trade surplus surged by 663.5% to RM20.48 billion. Trade, exports and imports recorded double-digit growth for three consecutive months.

The expansion in exports was sustained by higher global demand primarily for electrical and electronic (E&E) products mainly semiconductors in tandem with increasing digitalisation and 5G technology development, rubber products as well as petroleum products. Exports to all major markets namely ASEAN, China, the United States (US), the European Union (EU) and Japan registered positive growth.

On a month-on-month (m-o-m) basis, trade, exports and imports grew by 2.7%, 0.6% and 5.4%, respectively. Trade surplus decreased by 15.4%.

Trade for the first four months of 2021 grew by 21.4% to RM696.46 billion, compared to the same period of 2020. Exports increased by 27.8% to RM387.81 billion and imports rose by 14.3% to RM308.65 billion. Trade surplus surged by 137.5% to RM79.16 billion.

 

Export Performance of Major Sectors

Strong Export Growth Recorded for Almost All Products in April

In April 2021, all the products recorded positive growth except liquefied natural gas (LNG) and transport equipment.

Exports of manufactured goods which accounted for 86.3% of total exports, surged by 64.5% y-o-y to RM91.1 billion and was the fastest growth recorded in 22 years. Robust growth was recorded for all manufactured products excluding transport equipment. The expansion was due mainly to strong demand for E&E products, rubber products, petroleum products, manufactures of metal as well as machinery, equipment and parts. Rubber products and petroleum products recorded the highest export value thus far.

Exports of agriculture goods (7.4% share) surged by 66.9% to RM7.85 billion compared to April 2020 driven mainly by higher exports of palm oil and palm oil-based agriculture products.

Exports of mining goods (5.4% share) rebounded by 24.5% y-o-y to RM5.67 billion after registering negative growth since July 2019. The increase was attributed mainly to higher exports of crude petroleum, petroleum condensates and other petroleum oil as well as metalliferous ores and metal scrap.

 

Major exports in April 2021:

• E&E products, valued at RM36.8 billion and constituted 34.8% of total exports, increased by 42% from April 2020;
• Petroleum products, RM9.93 billion, 9.4% of total exports, increased by 87.8%;
• Rubber products, RM7.52 billion, 7.1% of total exports, surged by 207.2%;
• Palm oil and palm oil-based agriculture products, RM5.94 billion, 5.6% of total exports, increased by 73%; and
• Chemicals and chemical products, RM5.42 billion, 5.1% of total exports, increased by 39.4%.

Compared to March 2021, exports of agriculture and mining goods expanded by 4.9% and 8.4%, respectively. Exports of manufactured goods declined marginally by 0.2%.

For the period of January to April 2021, exports of manufactured goods grew by 31.1% to RM337.05 billion compared to the same period of 2020, following higher exports of E&E products, rubber products, manufactures of metal, chemicals and chemical products, machinery, equipment and parts as well as optical and scientific equipment. Exports of agriculture goods rose by 27% to RM26.02 billion owing to higher exports of palm oil and palm oil-based agriculture products. Exports of mining goods totalled RM21.03 billion, edged down by 13.2% on account of lower exports of LNG and crude petroleum.

 

Trade Performance with Major Markets

ASEAN – Exports Maintained a New High

In April 2021, trade with ASEAN grew by 64.7% y-o-y to RM49.85 billion, contributing 26.1% to Malaysia’s total trade. Exports recorded another month of new high, expanding by 58.6% to RM30.52 billion and sustained double-digit growth since February 2021. The expansion was contributed by higher exports of E&E products, petroleum products as well as machinery, equipment and parts. Imports from ASEAN increased by 75.4% to RM19.33 billion.

Breakdown of exports to ASEAN countries:

• Singapore RM15.54 billion, increased by 55.1%
• Thailand RM4.55 billion, ↑41.9%
• Viet Nam RM3.98 billion, ↑86.3%
• Indonesia RM3.04 billion, ↑15.9%
• Philippines RM2.12 billion, ↑142.2%
• Brunei RM911.7 million, ↑501.4%
• Myanmar RM260.2 million, ↑64.5%
• Cambodia RM122.3 million, ↑51.7%
• Lao PDR RM4.9 million, ↑221.0%

Exports to all ASEAN countries recorded growth notably Singapore which increased by RM5.52 billion due to higher exports of E&E products, Thailand (↑RM1.34 billion, crude petroleum), Viet Nam (↑RM1.84 billion, E&E products), Indonesia (↑RM416.3 million, petroleum products) and the Philippines (↑RM1.24 billion, petroleum products).

Compared to March 2021, trade, exports and imports grew by 4.3%, 6.8% and 0.5%, respectively.

In the first four months of 2021, trade with ASEAN rose by 24.8% to RM181.63 billion compared to the same period of 2020. Exports to this region was up by 22.8% to RM109.25 billion driven by higher exports of E&E products, chemicals and chemical products, machinery, equipment and parts as well as manufactures of metal. Imports from ASEAN expanded by 28% to RM72.38 billion.

 

China – Six Consecutive Months of Double-Digit Export Growth

In April 2021, trade with China rose by 35.7% y-o-y to RM35.63 billion, representing 18.7% of Malaysia’s total trade. Exports to China grew by 28% to RM15.45 billion, recording a double-digit growth for the sixth consecutive month. The increase was due to higher exports of manufactures of metal, LNG, petroleum products, metalliferous ores and metal scrap as well as palm oil-based manufactured products. Imports from China expanded by 42.3% to RM20.18 billion.

On a m-o-m basis, trade and imports recorded growth of 5.2% and 13.4%, respectively while exports contracted by 3.9%.

Trade with China during the period of January to April 2021 grew by 32.5% to RM128.16 billion compared to the same period of 2020. Exports expanded by 34% to RM57.44 billion, buoyed by higher exports of E&E products, manufactures of metal as well as LNG. Imports from China was up by 31.3% to RM70.71 billion.

 

The US – Resilient Export Growth Backed by Manufactured Goods

Trade with the US in April 2021 surged by 71.2% y-o-y to RM18.27 billion, accounting for 9.6% of Malaysia’s total trade. Exports recorded a resilient growth of 128.6% to RM12.15 billion, the largest growth in 22 years. The expansion was attributed to higher exports of manufactured goods particularly E&E products, rubber products, optical and scientific equipment as well as wood products. Imports from the US increased by 14.2% to RM6.12 billion.

Compared to March 2021, trade and imports recorded growth of 0.1% and 3%, respectively while exports decreased by 1.3%.

During the first four months of 2021, trade with the US grew by 28% to RM67.51 billion compared to the same period of 2020. Exports surged by 52.8% to RM44.77 billion supported by higher exports of rubber products, E&E products and wood products. Imports from the US declined by 2.9% to RM22.74 billion.

 

The EU – Trade, Exports and Imports Maintained Double-Digit Growth

Trade with the EU which accounted for 7.8% of Malaysia’s total trade in April 2021 expanded by 57.2% y-o-y to RM14.8 billion. Exports recorded fifth consecutive month of double-digit expansion, surged by 85.4% to RM8.84 billion supported by higher shipments of E&E products and rubber products. This was the largest growth recorded for the past 22 years. Imports from the EU was up by 28.2% to RM5.96 billion.

All top 10 EU markets which accounted for 90.6% of Malaysia’s total exports to the EU recorded increases namely, Germany (↑79.5%), the Netherlands (↑80.1%), Italy (↑136.3%), Belgium (↑47.9%), France (↑103.1%), Spain (↑69.8%), Poland (↑90%), Slovenia (↑1,536.5%), the Czech Republic (↑33.2%) and Sweden (↑115.6%).

On a month-on-month basis, trade, exports and imports declined by 8.7%, 10.2% and 6.3%, respectively.

During January to April 2021, trade with the EU expanded by 25.8% to RM56.98 billion from the same period of 2020. Exports grew by 35.5% to RM34.45 billion underpinned by higher exports of rubber products and E&E products. Imports from the EU rose by 13.4% to RM22.53 billion.

 

Japan – The Fastest Export Growth Thus Far

In April 2021, trade with Japan which made up 6.9% of Malaysia’s total trade increased by 54% y-o-y to RM13.23 billion. Exports grew for three straight months to reach RM6.2 billion, surged by 60.3% and was the fastest export growth thus far. Exports of manufactured goods which expanded since September 2020, doubled to RM4.45 billion in April 2021 from RM2.26 billion a year ago. This was led by higher exports of E&E products, manufactures of metal, rubber products as well as optical and scientific equipment. Exports of agriculture goods to Japan rebounded by 60.8% y-o-y, from a negative growth in March 2021 attributed mainly to palm oil and palm oil-based agriculture products. Imports from Japan rose by 48.8% to RM7.02 billion.

On a m-o-m basis, trade, exports and imports declined by 4.1%, 8% and 0.5%, respectively.

For the period of January to April 2021, trade with Japan rose by 19.5% to RM50.09 billion compared to the same period of 2020. Exports was up by 14.8% to RM25.16 billion buoyed by higher exports of E&E products, rubber products, manufactures of metal as well as optical and scientific equipment. Imports from Japan grew by 24.7% to RM24.93 billion.

 

Trade with FTA Partners

In April 2021, trade with Free Trade Agreement (FTA) partners which made up 66.7% of Malaysia’s total trade rose by 33.5% y-o-y to RM127.28 billion. Exports to FTA partners registered the highest monthly value of RM70.05 billion, grew by 48.5% and imports expanded by 18.8% to RM57.22 billion.

Increase in exports was recorded to all FTA partners including Hong Kong SAR, by 0.8% to RM5.93 billion due to higher exports of petroleum products, India (↑289.5% to RM3.67 billion, palm oil and palm oil-based agriculture products), Australia (↑98.1% to RM3.24 billion, petroleum products), the Republic of Korea (↑18.1% to RM2.84 billion, E&E products), Turkey (↑116.9% to RM1.29 billion, palm oil and palm oil-based agriculture products), Pakistan (↑69.4% to RM497.3 million, palm oil and palm oil-based agriculture products), New Zealand (↑107.6% to RM287.6 million, chemicals and chemical products) and Chile (↑44.7% to RM117.9 million, rubber products).

Compared to March 2021, trade, exports and imports rose by 2.6%, 0.7% and 5%, respectively.

Trade with FTA partners for the first four months of 2021 which accounted for 66.9% of Malaysia’s total trade increased by 21.1% to RM466.26 billion. Exports grew by 23.5% to RM258.64 billion and imports expanded by 18.2% to RM207.62 billion.

 

Import Performance

Total imports in April 2021 expanded by 24.4% y-o-y to RM85.14 billion from April 2020. The three main categories of imports by end use which accounted for 74.3% of total imports were:

• Intermediate goods, valued at RM46.46 billion or 54.6% of total imports, increased by 64.4%, following higher imports of processed industrial supplies particularly non-monetary gold;
• Capital goods, valued at RM9.26 billion or 10.9% of total imports, decreased by 38.2%, due mainly to lower imports of capital goods (except transport equipment), primarily ships, boats and floating structures; and
• Consumption goods, valued at RM7.56 billion or 8.9% of total imports, rose by 29.9%, as a result of higher imports of durables, especially parts of machinery and mechanical appliances.

During January to April 2021, imports increased by 14.3% to RM308.65 billion from the same period of 2020. Imports of intermediate goods grew by 16.3% to RM167.84 billion, capital goods (RM32.41 billion, ↓0.04%) and consumption goods (RM27.13 billion, ↑15%).