Malaysia External Trade Development Corporation

TRADE PERFORMANCE 2019

22nd Consecutive Year of Trade Surplus

In 2019, Malaysia’s trade surplus continued to register double-digit growth for 3 consecutive years, widening by 11% to RM137.39 billion compared to RM123.78 billion in 2018. This was the largest trade surplus since 2009, representing Malaysia’s achievement of 22nd consecutive year of trade surplus.

In tandem with softer global demand amid trade tensions and unfavourable external economic conditions, total trade contracted by 2.5% to RM1.835 trillion. Exports decreased marginally by 1.7% to RM986.4 billion, from the preceding year while imports declined by 3.5% to RM849.01 billion.

Lower trade was recorded with Singapore, Hong Kong SAR, France, Thailand and Japan. Nevertheless, higher trade was registered with the United States (US), the United Arab Emirates (UAE), the Philippines, Cambodia, Mexico and the United Kingdom (UK).

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Trade Performance : December 2019 and January - December 2019

Largest Trade Surplus for the Period of January to November Since 2009

Malaysia’s trade surplus in January to November 2019 was valued at RM124.74 billion, expanded by 10.6% compared to RM112.82 billion registered for the same period of 2018. This was the largest trade surplus recorded for the period of January to November since 2009.

Against the backdrop of challenging global economic conditions and ongoing trade tensions, Malaysia’s total trade over the past 11 months declined by 3% to RM1.675 trillion. Lower trade was recorded with Singapore, Hong Kong SAR, France, Japan and Thailand. Meanwhile, higher trade was registered with the United States (US), the United Arab Emirates (UAE), the Philippines and the United Kingdom (UK). Exports during this period registered a decrease of 2.1% to RM899.93 billion and imports contracted by 3.9% to RM775.19 billion.

Total trade in November 2019 decreased by 4.6% year-on-year (y-o-y) to RM155.06 billion. Lower trade was recorded with Singapore, Hong Kong SAR, Thailand, Taiwan and France while higher trade was registered with China, the US, the UAE and the UK. Exports totalled RM80.8 billion, contracted by 5.5% and imports amounted to RM74.26 billion, a decline of 3.6%.

Trade surplus in November 2019 was valued at RM6.54 billion, dipped by 23.1% as opposed to RM8.5 billion registered in November 2018. November trade surplus marked the 265th consecutive months of surplus since November 1997.

Compared to October 2019, Malaysia’s imports logged a growth of 1.4% while exports, total trade and trade surplus declined by 10.8%, 5.4% and 62.3%, respectively.

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Trade Performance : November 2019 and January - November 2019

Highest Monthly Export Value in 2019

Malaysia’s exports in October 2019 stood at RM90.59 billion, the highest monthly export value recorded in 2019. Exports contracted by 6.7% year-on-year (y-o-y) due to high base effect of RM97.12 billion in October 2018. Higher exports were registered to Singapore, Taiwan, the United States (US) and Russian Federation while lower exports were recorded to Australia, China, Japan, Thailand and India.

Total trade decreased by 7.6% to RM163.86 billion and imports amounted to RM73.27 billion, a decline of 8.7% from October 2018. Trade surplus in October 2019 was valued at RM17.33 billion, rose by 2.8% compared to RM16.85 billion registered in October 2018. This marked the 264th consecutive months of trade surplus since November 1997 and the highest monthly surplus ever recorded thus far.

Compared to September 2019, total trade, exports, imports and trade surplus registered an increase of 11.4%, 16.6%, 5.6% and 107.4%, respectively.

Total trade in the first 10 months of 2019 declined by 2.8% to RM1.52 trillion. Exports during this period registered a decrease of 1.8% to RM819.13 billion. Lower exports were recorded to Hong Kong SAR, Australia, Japan, Indonesia and China. Higher exports however were registered to Taiwan, the US, India and the Philippines. Imports contracted by 3.9% to RM700.93 billion. Moreover, trade surplus expanded by 13.3% to RM118.2 billion and marked the highest trade surplus for January-October since 2009.

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Trade Performance : October 2019 and January - October 2019

January-September 2019 Trade Surplus Highest in the Decade

Malaysia’s trade surplus in January to September 2019 was valued at RM100.86 billion, expanded by 15.3% compared to RM87.47 billion registered for the same period of 2018. This was the largest January-September trade surplus recorded in the last 10 years.

In tandem with subdued external demand and global challenges, total trade in the first nine months of 2019 decreased by 2.2% to RM1.356 trillion. Lower trade was recorded with Singapore, Hong Kong SAR, France and Japan. Higher trade however was registered with the United States (US), Saudi Arabia and the Philippines. Exports during the period registered a decrease of 1.1% to RM728.52 billion while imports contracted by 3.3% to RM627.66 billion.

Total trade in September 2019 stood at RM147.07 billion, decreased by 2.7% year-on-year (y-o-y). Lower trade was recorded with Singapore, Hong Kong SAR, Taiwan, Australia, Thailand and the Netherlands. However, higher trade was registered with China, India, the Republic of Korea (ROK), the US and Saudi Arabia. Exports decreased by 6.8% to RM77.7 billion. Imports amounted to RM69.37 billion, an increase of 2.4% from September 2018.

Trade surplus in September 2019 was valued at RM8.34 billion, declined by 46.5% compared to September 2018. This marked the 263rd consecutive months of trade surplus since November 1997.

On a month-on-month (m-o-m) basis, total trade, exports, imports and trade surplus registered a decline of 3.1%, 4.5%, 1.6% and 23.5%, respectively.

Total trade in the third quarter (Q3) of 2019 contracted by 3.7% to RM460.53 billion compared to Q3 2018. Total exports reached RM247.02 billion, 1.9% lower from the same period last year while imports contracted by 5.8% to RM213.51 billion. Trade surplus in Q3 2019 recorded a double-digit increase of 33.3% to RM33.51 billion from RM25.14 billion registered in Q3 2018.

Compared with the second quarter (Q2) of 2019, total trade, exports and trade surplus increased by 0.01%, 0.6% and 10.2% respectively, while imports slipped by 0.7%.

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Trade Performance : September 2019 and January - September 2019

Trade Surplus Sustained Above RM10 Billion

Malaysia’s trade surplus in August 2019 was valued at RM10.92 billion, surged by 655.2% compared to August 2018 and marked the 262nd consecutive months of trade surplus since November 1997.

Exports slipped by 0.8% year-on-year (y-o-y) to RM81.36 billion. Lower exports were recorded to Hong Kong SAR, Australia, Taiwan, China, New Zealand, the Republic of Korea (ROK) and ASEAN. Meanwhile, increases in exports were registered to Bangladesh, India, the United States (US) and the European Union (EU).

Imports amounted to RM70.43 billion, a contraction of 12.5% from August 2018. Total trade was valued at RM151.79 billion, lower by 6.6% y-o-y.

On a month-on-month (m-o-m) basis, total trade, exports, imports and trade surplus registered a decline of 6.1%, 7.5%, 4.4% and 23.5%, respectively.

For the first 8 months of 2019, total trade stood at RM1.209 trillion, declining by 2.1% compared to the same period of 2018. Exports amounted to RM650.81 billion, decreased marginally by 0.4% while imports contracted by 4% to RM558.26 billion. Trade surplus increased by 28.7% to RM92.55 billion.

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Trade Performance : August 2019 and January - August 2019

The Highest Export Value for the Month of July

Malaysia’s exports picked up in July 2019 by 1.7% to RM87.96 billion compared to July 2018 and was the highest export value ever recorded for the month of July. Expansion in exports was contributed mainly by higher exports to Taiwan, the United States (US), China and Singapore.

Imports amounted to RM73.69 billion, a contraction of 5.9%. Trade surplus surged by 75.6% to RM14.27 billion. This was the 261st consecutive month of trade surplus since November 1997. Total trade was valued at RM161.65 billion, a decline of 1.9%.

On a month-on-month (m-o-m) basis, total trade, exports and imports registered a double digit growth of 14%, 15.5% and 12.3%, respectively. Trade surplus rose by 35.8%.

For the first 7 months of 2019, total trade stood at RM1.057 trillion, declining by 1.4% compared to the same period of 2018. Exports amounted to RM569.46 billion, slipped marginally by 0.4% while imports was RM487.84 billion, contracting by 2.6%. Trade surplus increased by 15.9% to RM81.62 billion.

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Trade Performance : July 2019 and January - July 2019

Trade Surplus Surged by 71% in June 2019

Malaysia registered a trade surplus of RM10.26 billion in June 2019, the 260th consecutive month of trade surplus since November 1997. Exports amounted to RM76.17 billion, contracted by 3.1% compared with June 2018. Imports decreased by 9.2% to RM65.91 billion.

Trade in June 2019 contracted by 6% to RM142.08 billion compared to June 2018. Lower trade was recorded with China, Hong Kong SAR, Thailand, Singapore and Japan. Higher trade however was registered with India, the Philippines and the United States (US).

On a month-on-month (m-o-m) basis, trade surplus recorded a double-digit growth of 13.1% while total trade, exports and imports were down by 10.8%, 9.5% and 12.2%, respectively.

Total trade for the second quarter (Q2) of 2019 was valued at RM460.78 billion, declined by 0.4% compared to RM462.8 billion in Q2 2018. Exports totalled RM245.46 billion, an increase of 0.2% while imports amounted to RM215.32 billion, contracting by 1.2%. A trade surplus of RM30.15 billion was recorded for the period, a growth of 11.1%.

Compared to the first quarter (Q1) 2019, total trade, exports and imports rose by 5.9%, 4% and 8.1%, respectively. Trade surplus declined by 18.4%.

For the first half (H1) of 2019, exports declined by 0.2% to RM481.53 billion and imports decreased by 1.8% to RM414.42 billion compared to the same period of 2018. Total trade contracted by 1% to RM895.95 billion while trade surplus expanded by 10.9% to RM67.1 billion.

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Trade Performance : June 2019 and January - June 2019

The Highest Export Value for The Month of May

Malaysia’s trade in May 2019 grew by 2% from May 2018 to reach a value of RM159.21 billion. Expansion was supported mainly by higher trade with the United States (US), India, the Philippines and Thailand.

Exports rose by 2.5% to RM84.15 billion, the highest export value ever registered for the month of May. Imports expanded by 1.4% to RM75.06 billion. Faster export growth compared to imports has resulted in a higher trade surplus of RM9.08 billion, surged by 11.9% compared to May last year. This was the 259th consecutive month of trade surplus since November 1997.

On a month-on-month (m-o-m) basis, imports increased by 1% while total trade, exports and trade surplus slipped by 0.2%, 1.2% and 16%, respectively.

For the first 5 months of 2019, total trade increased by 0.1% to RM753.88 billion compared to the same period of 2018. Exports grew by 0.3% to RM405.36 billion while imports shrank by 0.3% to RM348.52 billion. Trade surplus rose by 4.3% to RM56.85 billion during the period.

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Trade Performance : May 2019 and January - May 2019

Trade Rebounded in April 2019

Malaysia’s trade in April 2019 expanded by 2.6% to RM159.55 billion compared to April 2018. Higher trade was recorded with ASEAN, Australia, Saudi Arabia, Taiwan, the United States (US), Japan, India and China.

Exports increased by 1.1% to RM85.2 billion after registering 2 consecutive year-on-year (y-o-y) declines since February 2019. This was also the highest export value ever recorded for the month of April. Imports rose by 4.4% to RM74.35 billion. Trade surplus was RM10.86 billion, lower by 16.6% and was the 258th consecutive month of trade surplus since November 1997.

On a month-on-month (m-o-m) basis, total trade, exports and imports increased by 3.8%, 1.4% and 6.7%, respectively. Trade surplus contracted by 24.5%.

In the first 4 months of 2019, total trade was still marginally lower by 0.4% to RM594.72 billion compared to the same period of 2018. Exports amounted to RM321.26 billion, a decrease of 0.2% while imports slipped by 0.7% to RM273.45 billion. Trade surplus grew by 3.1% to RM47.81 billion during the period.

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Trade Performance : April 2019 and January - April 2019

The Highest Month-On-Month Export Growth Since April 2010

Malaysia’s trade in March 2019 decreased marginally by 0.3% to RM153.73 billion compared to March 2018. Lower trade was recorded with Japan, ASEAN, India, Hong Kong SAR, the European Union (EU), the Republic of Korea (ROK) and Turkey. Meanwhile, higher trade was registered with China, Saudi Arabia, Taiwan, Australia, and the United States (US).

Exports in March 2019 was valued at RM84.05 billion, a slight decrease of 0.5% from RM84.47 billion recorded in March 2018. Imports contracted by 0.1% to RM69.68 billion. Trade surplus stood at RM14.37 billion, lower by 2.2% from a year ago and was the 257th consecutive month of trade surplus since November 1997.

On a month-on-month (m-o-m) basis, total trade surged by 25.9% while exports grew by 26.2%, the fastest export growth registered since April 2010. Imports and trade surplus expanded by 25.4% and 30%, respectively.

Total trade for the first quarter (Q1) of 2019 was valued at RM435.16 billion, a decline of 1.5% compared to RM441.89 billion registered in Q1 2018. Exports totalled RM236.05 billion, a decrease of 0.7% while imports amounted to RM199.11 billion, contracted by 2.5%. A trade surplus of RM36.94 billion was recorded for the period, increased by 10.7%.

Compared to the fourth quarter (Q4) 2018, total trade, exports and imports contracted by 12%, 10.8%, 13.4%, respectively. Trade surplus expanded by 6.1%.

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Trade Performance : March 2019 and January - March 2019

February 2019 Trade Surplus widened by 22.7% to RM11.06 billion

Malaysia’s trade in February 2019 declined by 7.2% to RM122.15 billion compared to February 2018. This was due to lower trade with China, ASEAN, European Union (EU), Switzerland, Hong Kong SAR, India, the Republic of Korea (ROK) and the United States (US). Meanwhile, higher trade was recorded with Saudi Arabia, Australia, Taiwan and New Zealand.

Exports in February 2019 recorded a decrease of 5.3% year-on-year (y-o-y) to RM66.6 billion. Imports posted a faster rate of contraction compared to exports, declining by 9.4% to RM55.54 billion, resulting in a larger trade surplus of RM11.06 billion, 22.7% higher compared to February 2018. This was the 256th consecutive month of trade surplus since November 1997.

On a month-on-month (m-o-m) basis, total trade, exports, imports and trade surplus decreased by 23.3%, 22%, 24.8% and 3.9%, respectively. This is a common trend for the month of February because of the shorter working period and long Chinese New Year holiday.

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Trade Performance : February 2019 and January - February 2019

Highest January Exports at RM85.41 billion

Malaysia’s trade in January 2019 expanded by 2.1% to reach a value of RM159.3 billion from January 2018. Expansion in trade were seen with China, Taiwan, Saudi Arabia, the Republic of Korea (ROK), Thailand, the United Arab Emirates (UAE) and the United States (US).

Exports posted a stronger year-on-year (y-o-y) growth compared to imports, registering an expansion of 3.1% to RM85.41 billion. This was the highest export value ever recorded for the month of January, surpassing RM82.82 billion registered in January 2018. Imports grew by 1% to RM73.89 billion, resulting in a trade surplus of RM11.52 billion, 19.2% higher compared to January 2018. This was the 255th consecutive month of trade surplus recorded since November 1997.

On a month-on-month (m-o-m) basis, total trade, exports and imports increased by 1.9%, 2.2% and 1.4%, respectively.

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 Trade Performance : January 2019