Malaysia External Trade Development Corporation

TRADE PERFORMANCE 2017

2017 Trade – The Strongest Growth in 13 years

Malaysia’s trade registered stellar performance in 2017, growing at the highest rate in 13 years. Trade surged by 19.4% to RM1.774 trillion, compared to RM1.486 trillion recorded the previous year.

This remarkable performance was contributed by higher trade with ASEAN, which expanded by 21% or RM84.49 billion, China (↑20.6% or RM49.68 billion), the European Union (EU) (↑17.5% or RM26.05 billion), the United States of America (USA) (↑16.3% or RM22.12 billion), Japan (↑14.7% or RM17.77 billion), Taiwan (↑24.3% or RM15.33 billion), India (↑26.2% or RM12.74 billion), Hong Kong SAR (↑22.7% or RM11.41 billion) and Australia (↑23.7% or RM10.06 billion).

Significant increases in trade were also recorded with the Republic of Korea (ROK), Turkey, the United Arab Emirates (UAE), New Zealand, Iran, South Africa, Mexico, Bangladesh, Iraq and Brazil.

Exports grew significantly by 18.9%, the strongest growth since 2005 to reach a new high of RM935.39 billion. Imports also recorded the highest value of RM838.14 billion, expanding by 19.9%. Trade surplus widened by 10.3% to RM97.25 billion, the largest surplus registered since 2012. This was the 20th consecutive year of trade surplus since 1998.

Major highlights on exports in 2017:

• Double digit y-o-y growth recorded for every single month of the year, except for June and December;
• All sectors recorded strong expansion with double digit growth;
• Double digit y-o-y growth for electrical and electronics (E&E) exports except for December, driven by strong global demand for smart electronics;
• Sharp rebound in export growth of major commodities as world prices improved;
• Exports to almost all major markets recorded a new high;
• Higher exports to ASEAN with growth recorded to all markets except for Lao PDR;
• Increased exports to Free Trade Agreement (FTA) partners; particularly to ASEAN, China, Japan, the ROK, Australia, Turkey, India, New Zealand, Pakistan and Chile;
• Robust export growth to advanced countries, in particular, the USA and the EU notably the Netherlands and Germany; and
• Greater demand from emerging markets such as Mexico, Brazil and South Africa.

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Trade Performance : December 2017 and January - December 2017

Exports Hit All-time Monthly Record High in November 2017

Malaysia’s total trade in November 2017 surged by 14.8% to RM157.05 billion compared with the year before. The growth was mainly buoyed by trade with ASEAN, the European Union (EU), China, Hong Kong SAR, the Republic of Korea (ROK), the United States of America (USA) and Taiwan.

Exports in November 2017 expanded by 14.4% to RM83.5 billion, the highest monthly export value ever recorded after the RM82.62 billion registered in March 2017. Imports rose by 15.2% to RM73.55 billion. Trade surplus amounted to RM9.95 billion, the 241st consecutive month of trade surplus since November 1997.

On a month-on-month (m-o-m) basis, total trade, exports and imports expanded by 1.9%, 1.5% and 2.4%, respectively.

Total trade for the first eleven months of 2017 amounted to RM1.622 trillion, grew by 20.8% compared with the same period of 2016. Exports totalled RM856.05 billion, surged by 20.4% while imports stood at RM766.07 billion, rose by 21.2%. Trade surplus of RM89.98 billion was recorded, higher by 13.6% compared to the corresponding period of 2016. The total value of trade, exports, imports and trade balance for the first 11 months of 2017 had surpassed that of the whole of 2016, respectively.

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Trade Performance : November 2017 and January - November 2017

October 2017 – the Highest Trade Surplus Since April 2016

Malaysia’s total trade in October 2017 surged by 19.8% to RM154.26 billion compared with the year before. The main contributors to the growth were trade with ASEAN, China, the United States of America (USA), Hong Kong SAR, Japan, the European Union (EU) and Taiwan.

Exports in October 2017 rose significantly by 18.9% to RM82.41 billion, exceeding RM80 billion mark for the third time in 2017. Imports rose by 20.9% to RM71.85 billion. Trade surplus widened to RM10.56 billion, the highest value since April 2016, making it the 240th consecutive month of trade surplus since November 1997.

On a month-on-month (m-o-m) basis, total trade, exports and imports expanded by 4.3%, 5.3% and 3.2%, respectively.

Total trade for the first ten months of 2017 amounted to RM1.465 trillion, grew by 21.5% compared with the same period of 2016. Exports totalled RM772.66 billion, an increase of 21.1% while imports stood at RM692.51 billion, rose by 21.9%. Trade surplus of RM80.15 billion was recorded, higher by 14.4% compared to the corresponding period of 2016.

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Trade Performance : October 2017 and January - October 2017

11 Straight Months of Strong Growth for Exports, Imports and Trade

Exports remained strong in September 2017, registering a double-digit growth of 14.8% to RM78.26 billion compared to September 2016. In the first nine months of 2017, exports surged by 21.3% to RM690.25 billion. Based on the performance so far, the full year estimate of 16.6% export growth as stated in the Economic Report 2017/2018 is well within reach. This would support the projected economic growth of between 5.2% and 5.7% for 2017.

With the emphasis on export promotion in the 2018 budget, exports is expected to be sustained in 2018.

September export achievements were supported by robust demand from major markets mainly from ASEAN, China, Hong Kong SAR, the European Union (EU), the United States of America (USA), Republic of Korea (ROK), Japan, Australia, Mexico and Turkey.

In September 2017, imports grew by 15.2% to RM69.65 billion compared with September 2016. In the first nine months of 2017, imports amounted to RM620.66 billion, rose by 22%.

Total trade expanded by 15% to RM147.91 billion in September 2017. Malaysia’s trade in the first nine months of 2017 increased by 21.7% to RM1.311 trillion compared with the same period of 2016.

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Trade Performance : September 2017 and January - September 2017

MINISTER OF INTERNATIONAL TRADE AND INDUSTRY

MALAYSIA 

MALAYSIA EXTERNAL TRADE STATISTICS

MEDIA STATEMENT

Trade Remains Robust in 2017

The first eight months of 2017 have seen unprecedented growth in Malaysia’s trade. Growth has exceeded 20% every single month of the year, except for January and June. Last year total trade breached the RM1 trillion mark in September but this year total trade reached RM1 trillion earlier, in July. In 2016, total trade increased by 1.5%. We had earlier estimated total trade in 2017 to grow by about 3%. Although we expect some slight deceleration at the end of this year, partly because of the base effect, Malaysia is likely to record a total trade growth exceeding 10%, given the strong performance in the first eight months.

The trade surplus has also been healthy, increasing to RM60.84 billion for the first eight months of 2017. In the same period last year, it stood at RM52.47 billion. This year we are likely to see a slight increase in the trade surplus compared to RM88.15 billion in the whole of last year.

A very important feature of this year trade is that there has been strong growth in most sectors and key markets. Increases in exports have been across the board.

Manufactured goods have performed well, particular electrical and electronics products. E&E exports amounted to RM220.56 billion (January to August 2017), growing 21.4% compared to the same period in 2016. We expect the E&E sector to continue to grow given the improvement in global semiconductor sales and strong projections from the smart devices, automotive, storage and healthcare markets. Another area showing strong performance is mining goods, driven by crude petroleum and LNG, which collectively surged by 34% to RM45.16 billion during the same period. This is due mostly to higher and more stable global energy prices.

Trade with China strengthened to 26% in the first eight months of 2017 to RM188.26 billion compared to the previous period. This was driven by exports which surged 36.5% to RM80.47 billion. Trade with our key markets, ASEAN, EU, United States and Japan remained strong with growth of 23.9%, 18.3%, 19.7% and 17.7% respectively in the first eight months.

Malaysia’s trade remains resilient driven by diversification in exports. E&E accounted for 36% of exports in January-August 2017, while Petroleum, LNG and Chemical products account for 22.7% of exports. Agriculture including palm oil & palm oil based products is also an important component of Malaysian exports, amounting to 8.5% of total exports.

The World Trade Organization recently raised their 2017 growth forecast in world merchandise trade volume to 3.6% from a previous estimate of 2.4%. This is attributed to a resurgence of Asian trade flows as intra-regional shipments picked up and as demand in North America recovered after stalling in 2016. We foresee that Malaysia will benefit from the increase in global trade with our trade remaining robust for the rest of 2017.

Dato’ Sri Mustapa Mohamed
Minister of International Trade and Industry

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Trade Performance : August 2017 and January - August 2017

Trade Breached One Trillion Mark in the First Seven Months of 2017

Malaysia’s total trade surpassed the one trillion mark in January-July 2017, with a value of RM1.008 trillion, expanding by 22.7% from the corresponding period in 2016. This was the fastest period trade breached the one trillion mark, two months earlier than the normal trend. Expansion was supported mainly by trade with ASEAN, China, the United States of America (USA), the European Union (EU), Japan, India and Taiwan. Exports increased by 22.3% to RM529.68 billion while imports rose by 23% to RM478.71 billion, resulting in a trade surplus of RM50.97 billion.

Exports in July 2017 maintained its steady growth momentum recording a value of RM78.62 billion, rising by 30.9% compared with a year ago. Exports posted a stronger year-on-year growth than imports for the third straight month. Imports was higher by 21.8% to RM70.59 billion and total trade expanded by 26.4% to RM149.21 billion. July’s trade surplus of RM8.03 billion marked the 237th consecutive month of trade surplus since November 1997.

On a month-on-month basis, total trade, exports and imports in July 2017 were higher by 9.5%, 7.6%, and 11.7%, respectively.

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Trade Performance : July 2017 and January - July 2017 

June 2017 – Trade Surplus of RM9.88 billion, the Highest Since April 2016

Malaysia’s total trade for the month of June 2017 increased by 7% to RM136.26 billion, up from RM127.38 billion recorded in June 2016. Expansion was supported mainly by trade with China, India, Japan, the European Union (EU), ASEAN, the United States of America (USA), Taiwan and the Republic of Korea (ROK).

Exports in June 2017 posted a stronger year-on-year growth than imports for the second straight month. Exports expanded by 10% to RM73.07 billion while imports grew by 3.7% to RM63.19 billion. June’s trade surplus of RM9.88 billion marked the 236th consecutive month of trade surplus since November 1997 and the highest value of trade surplus since April 2016.

Compared to May 2017, total trade, exports and imports were lower by 11.1%, 8% and 14.5%, respectively.

Total trade in second quarter (Q2) 2017 amounted to RM428.66 billion, an expansion of 19.9% from Q2 2016. Total exports in the quarter reached RM226.36 billion, 20.6% higher from the same period last year and imports increased by 19.1% to RM202.31 billion. A trade surplus of RM24.05 billion was recorded for Q2 2017 compared to RM17.86 billion registered in Q2 2016.

Compared with Q1 2017, exports increased by 0.7% while total trade and imports contracted marginally by 0.4% and 1.7%, respectively.

In the first half (H1) of 2017, Malaysia’s total trade rose by 22% to RM859.17 billion from RM704 billion recorded in H1 2016. During the period, exports increased by 21% to RM451.05 billion and imports expanded by 23.3% to RM408.12 billion. A trade surplus of RM42.93 billion was recorded for H1 2017 compared to RM41.79 billion in H1 2016.

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Trade Performance : June 2017 and January - June 2017

May 2017 – Export Growth Outpaced Import for the First Time Since May 2016

Malaysia’s trade in May 2017 registered a value of RM153.3 billion and grew by 31.5% as against RM116.6 billion recorded in May 2016. Expansion in trade was seen with almost all trading partners particularly ASEAN, China, the United States of America (USA), the European Union (EU), India, Taiwan and Australia.

Exports in May 2017 posted a stronger year-on-year growth compared to imports for the first time since May 2016. Exports grew by 32.5% to RM79.4 billion while imports increased by 30.4% to RM73.91 billion, resulting in a trade surplus of RM5.49 billion. This was the 235th consecutive month of trade surplus recorded since November 1997.

On a month-on-month basis, total trade, exports and imports expanded by 10.2%, 7.5% and 13.3%, respectively.

In January-May 2017, total trade grew by 25.4% to RM722.89 billion, exports increased by 23.3% to RM377.96 billion while imports rose by 27.7% to RM344.93 billion. The trade surplus amounted to RM33.03 billion.

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Trade Performance : May 2017 and January - May 2017

April 2017- Double Digit Trade Growth for 5 Straight Months

Malaysia’s total trade in April 2017 surged by 22.5% to RM139.18 billion compared with the year before. The growth was supported by expansion in trade with ASEAN, China, Japan, India, the European Union (EU) and the United States of America (USA).

Exports maintained its double digit growth for the fifth straight month since December 2016. Exports in April 2017 grew by 20.6% to RM73.97 billion from April 2016 and imports expanded by 24.7% to RM65.21 billion, resulting in a trade surplus of RM8.75 billion. This marks the 234th consecutive month of trade surplus since November 1997.

On a month-on-month basis, total trade, exports and imports dropped by 12.9%, 10.5% and 15.6%, respectively due to the high base effect in March.

Total trade for the first four months of 2017 was valued at RM569.68 billion, grew by 23.8% compared with RM460.02 billion recorded in the same period last year. Exports totalled RM298.65 billion, an increase of 21.2% while imports rose by 26.9% to RM271.03 billion. The trade surplus amounted to RM27.62 billion.

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Trade Performance : April 2017 and January - April 2017

Outstanding Trade Performance in March 2017

Malaysia's trade continued its strong momentum in March 2017, expanding by 31.1% to RM159.86 billion compared with the year before. Higher trade was seen with ASEAN, China, the United States of America (USA), the European Union (EU), the Republic of Korea (ROK) and Japan.

A new milestone for export performance was recorded in March 2017, breaching RM80 billion mark for the first time. Exports grew by 24.1% to RM82.63 billion, the highest monthly export value ever recorded. This was the fourth consecutive month exports registered double digit growth since December 2016. Imports surged by 39.4% to RM77.22 billion, while trade balance stood at RM5.41 billion, making it the 233rd consecutive month of trade surplus since November 1997.

On a month-on-month basis, total trade, exports and imports grew by 18.5%, 15.1% and 22.5%, respectively.

Total trade for the first quarter (Q1) of 2017 was valued at RM430.51 billion, grew by 24.3% compared with RM346.38 billion registered in Q1 2016. Exports totalled RM224.7 billion, an increase of 21.4% while imports amounted to RM205.82 billion, rose by 27.7%. Trade surplus of RM18.88 billion was recorded for the period.

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Trade Performance : March 2017 and January - March 2017

Highest Trade, Exports and Imports Ever Recorded for the Month of February

Malaysia’s total trade in February 2017 expanded by 27.1%, reaching RM134.83 billion compared to the same month last year. Expansion in trade were seen with all major trading partners, namely ASEAN, China, India, Japan, Taiwan, the European Union (EU) and the United States of America (USA).

Exports remained at a higher level, increasing by 26.5%, amounting to RM71.77 billion. This was the fourth consecutive month exports exceeded RM70 billion since November 2016, higher than the monthly average of RM64 billion recorded in the first ten months of 2016. Imports in February 2017 grew by 27.7% to RM63.06 billion while trade surplus stood at RM8.71 billion, making it the 232nd consecutive month of trade surplus since November 1997.

Total trade for the first two months of 2017 surged by 20.6% to RM270.63 billion compared with RM224.4 billion in the corresponding period of 2016. Exports were higher by 19.8% to RM142.04 billion while imports increased by 21.5% to RM128.59 billion, resulting in trade surplus of RM13.45 billion.

On a month-on-month basis, exports rose by 2.1%, while imports and total trade posted a decline of 3.8% and 0.7%, respectively.

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Trade Performance : February 2017 and January - February 2017

Strong Trade in January

Malaysia’s trade in January 2017 recorded a remarkable growth of 14.8% to reach a value of RM135.77 billion as compared to RM118.31 billion in January 2016. Expansion in trade were seen with China, ASEAN, Japan, the United States of America (USA), Taiwan, Australia and the European Union (EU).

Exports posted a double digit growth of 13.6% to RM70.24 billion, the highest monthly export value ever recorded for the month of January, surpassing RM64.05 billion registered in January 2014. Imports expanded by 16.1% to RM65.53 billion.

A trade balance of RM4.71 billion was recorded in January 2017 making it the 231st consecutive month of trade surpluses since November 1997.

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Trade Performance : January 2017