TUESDAY, 19 DECEMBER 2023, KUALA LUMPUR: Malaysia's trade promotion agency, Malaysia External Trade Development Corporation (MATRADE), will continue to boost Malaysian aerospace players into the global supply chain. This is consistent with the New Industrial Masterplan's (NIMP) goal of increasing economic complexity while increasing aerospace revenues, as envisioned in the Malaysian Aerospace Industry Blueprint (MAIB).

Malaysia’s aerospace exports continued its upward trend during the first eleven months of 2023 with a double digit increase or 10.1 per cent to reach RM5.59 billion compared for same period in 2022.

MATRADE intends to increase aerospace product and service exports to Europe in 2024, as this region is Malaysia's most important export destination for aerospace products and services. Between January to November 2023, aerospace exports to the European region totalled RM1.23 billion with the top five destinations being the United Kingdom, Ireland, Italy, France, and Germany. 50.1% of Malaysia's aerospace exports to Europe were aircraft or helicopter parts.

Earlier in 14 December 2023, MATRADE Paris organised a business networking event, which was attended by key aerospace industry players in France, including the Ministry of the Economy, Finance and Industrial and Digital Sovereignty of France; French Aerospace Industries Association; AStech Paris Region; Chamber of Commerce Paris; Malaysia-France Chamber of Commerce; EVOLEN; and companies such as Safran, SNECI and Daussan.

During the session, Trade Commissioner of MATRADE Frankfurt, Zuhaila Sedek delivered an overview of the Malaysian aerospace industry and shared examples of collaborative works with Malaysia, namely, in sustainable sourcing, contract manufacturing, R&D in advanced sustainable materials and ESG-based capacity-building programmes.

According to Zuhaila, "During the recent Paris Airshow 2023 held in June, our Malaysia Pavilion became a top attraction among ASEAN countries with potential business opportunities of aerospace products and services as well as Malaysian hub establishments." "The growing interest in Malaysia reflects the good relationship Malaysia has as a regional aerospace hub, thanks to our credible aerospace and aviation companies as well as the Malaysian government's progressive policies," she added.

The Malaysian aerospace industry has witnessed remarkable growth, driven by a strategic combination of public and private sector collaborations. Malaysia has emerged as a hub for aerospace manufacturing, maintenance, repair, and overhaul (MRO) services as well as training. The government has implemented robust policies to attract foreign direct investment, foster innovation, and build a skilled workforce.

MATRADE is currently in talks with multiple French counterparts to forge partnerships in joint capacity-building programmes, participation in key French aerospace trade events as well as customised B2B engagements.

To strengthen our existence in the European market, in 2024, MATRADE in collaboration with National Aerospace Industry Corporation (NAICO) will be coordinating the participation of Malaysian aerospace companies under the Malaysia Pavilion at Farnborough International Airshow (FIA) 2024, which will be held in the United Kingdom from 22 – 26 July 2024. The biennial international trade show is an iconic event that brings together aerospace giants such as Airbus, Boeing, Embraer, Bombardier, BAE Systems, GKN, Rolls Royce and Safran.

FIA 2024 will provide an opportunity to showcase the capabilities of Malaysian aerospace companies while boosting potential business through meetings with primes as well as Tier-1 and Tier-2 companies in the global aerospace supply chain.

During our participation in FIA 2024, MATRADE will raise awareness among international players about the development of aerospace parks by creating dedicated spaces for research, testing, and manufacturing. MATRADE will emphasise that this infrastructure development not only strengthens our capabilities but also provides an appealing ecosystem for international aerospace companies looking for collaborative opportunities.

The pivotal roles of MATRADE and NAICO in developing the Malaysian aerospace industry and act as conduits for global partners to explore partnerships with Malaysia through industrial collaborations, trade and investment.

Malaysian companies interested to join FIA 2024 can contact MATRADE by emailing Alamat emel ini dilindungi dari Spambot. Anda perlu hidupkan JavaScript untuk melihatnya. or call 03-6207 7077.  For more details on exports to France, please email Alamat emel ini dilindungi dari Spambot. Anda perlu hidupkan JavaScript untuk melihatnya..

Malaysia Kekal Lebihan Dagangan yang ke-43 Bulan Berturut-turut

Pada November 2023, perdagangan Malaysia mencatatkan pengurangan sederhana sebanyak 2.4% tahun ke tahun kepada RM231.79 bilion. Eksport mencecah RM122.10 bilion, menyusut 5.9% tahun ke tahun manakala import mengembang 1.7% kepada RM109.69 bilion. Lebihan dagangan bernilai RM12.41 bilion dicatatkan, merupakan lebihan dagangan yang ke-43 bulan berturut-turut sejak Mei 2020. Prestasi ini seiring dengan rakan dagang utama Malaysia yang lain seperti Taiwan, ROC dan Indonesia di mana masing-masing merekodkan pertumbuhan perdagangan negatif pada November 2023 serta pengurangan dalam import global.

Berbanding Oktober 2023, perdagangan, eksport, import dan lebihan dagangan masing-masing menurun sebanyak 3.1%, 3.2%, 3.1% dan 3.8%.

Bagi tempoh Januari hingga November 2023, perdagangan menyusut 7.5% kepada RM2.413 trilion berbanding tempoh yang sama tahun lepas. Eksport mengurang 7.8% kepada RM1.308 trilion, import menurun 7.1% kepada RM1.105 trilion dan lebihan dagangan merosot sebanyak 11.3% kepada RM202.49 bilion.

Prestasi Eksport Sektor Utama

Eksport Hasil Galian Meningkat 

Pada November 2023, eksport barangan perkilangan yang merangkumi 83.8% atau RM102.38 bilion daripada jumlah eksport menyusut 6.7% tahun ke tahun berikutan pengurangan eksport barangan elektrik dan elektronik (E&E), kimia dan bahan kimia serta kelengkapan pengangkutan. Namun begitu, peningkatan eksport telah direkodkan bagi keluaran petroleum, jentera, kelengkapan dan peralatan, barangan perkilangan logam, barangan makanan diproses serta barangan besi dan keluli.

Eksport hasil galian merekodkan nilai bulanan tertinggi bagi tahun 2023 setakat ini, berkembang 0.5% tahun ke tahun kepada RM10.46 bilion (8.6% syer). Ini merupakan pertumbuhan positif yang pertama dicatatkan setelah merekodkan penyusutan selama lima bulan berturut-turut, dipacu oleh eksport yang kukuh bagi petroleum mentah serta petroleum kondensat dan minyak petroleum lain.

Eksport keluaran pertanian (6.9% syer) menyusut 5.5% kepada RM8.39 bilion berbanding November 2022 disebabkan terutamanya oleh pengurangan eksport minyak sawit dan keluaran pertanian berasaskan minyak sawit berikutan penurunan harga eksport minyak sawit.

Barangan eksport utama pada November 2023: 

• Barangan E&E, bernilai RM45.43 bilion dengan syer 37.2% daripada jumlah eksport, mengurang 13.8% berbanding November 2022;
• Keluaran petroleum, RM13.34 bilion, 10.9% daripada jumlah eksport, ↑8.2%;
• Minyak sawit dan keluaran pertanian berasaskan minyak sawit, RM6.07 bilion, 5.0% daripada jumlah eksport, ↓10.9%;
• Kimia dan bahan kimia, RM6.01 bilion, 4.9% daripada jumlah eksport, ↓15.7%; dan
• Gas asli cecair (LNG), RM5.63 bilion, 4.6% daripada jumlah eksport, ↓14.8%.

Berdasarkan perbandingan bulan ke bulan, eksport hasil galian merekodkan pertumbuhan dua digit 19.7%, manakala eksport barangan perkilangan dan keluaran pertanian masing-masing menguncup sebanyak 4.8% dan 5.7%.

Bagi tempoh Januari hingga November 2023, eksport barangan perkilangan mengurang 6.4% kepada RM1.118 trilion berbanding tempoh yang sama tahun 2022 berikutan penurunan eksport keluaran petroleum, barangan E&E, barangan perkilangan berasaskan minyak sawit serta kimia dan bahan kimia. Walau bagaimanapun, eksport barangan makanan diproses serta barangan kertas dan palpa merekodkan peningkatan yang kukuh.

Eksport hasil galian menguncup 11.6% kepada RM95.38 bilion berikutan pengurangan eksport LNG dan petroleum mentah.

Eksport keluaran pertanian menurun 21.6% kepada RM86.12 bilion disebabkan oleh penyusutan eksport minyak sawit dan keluaran pertanian berasaskan minyak sawit berikutan penurunan harga eksport minyak sawit.

Prestasi Perdagangan dengan Pasaran Utama 

ASEAN – Kekal Pertumbuhan Eksport Keluaran Petroleum serta Jentera, Kelengkapan dan Peralatan

Pada November 2023, perdagangan dengan ASEAN mencatatkan pengurangan marginal 0.2% tahun ke tahun, menyerap 27.3% atau RM63.31 bilion daripada jumlah perdagangan Malaysia. Eksport mengurang 5.8% kepada RM36.41 bilion disebabkan oleh penurunan eksport barangan E&E. Walau bagaimanapun, penyusutan ini telah diimbangi oleh kenaikan eksport petroleum mentah, keluaran petroleum serta jentera, kelengkapan dan peralatan. Import dari ASEAN mengembang 8.6% kepada RM26.89 bilion.

Pecahan eksport ke negara ASEAN:

Eksport ke pasaran utama ASEAN yang merekodkan pertumbuhan ialah Viet Nam, meningkat sebanyak RM1.55 bilion disokong oleh eksport yang kukuh bagi barangan E&E dan Indonesia, naik sebanyak RM209.4 juta dipacu oleh kenaikan eksport keluaran petroleum.

Berbanding Oktober 2023, perdagangan, eksport dan import masing-masing menurun 1.6%, 0.3% dan 3.3%.

Bagi tempoh Januari hingga November 2023, perdagangan dengan ASEAN mengurang 6.3% kepada RM663.75 bilion berbanding tempoh yang sama tahun 2022. Eksport menurun 6.7% kepada RM387.18 bilion berikutan eksport yang rendah bagi keluaran petroleum, barangan E&E, kimia dan bahan kimia serta minyak sawit dan keluaran pertanian berasaskan minyak sawit. Namun begitu, kenaikan eksport dicatatkan bagi barangan galian bukan logam, barangan makanan diproses serta barangan minuman dan tembakau. Import dari ASEAN menyusut 5.8% kepada RM276.56 bilion.

China – Eksport Meningkat Berbanding Oktober 2023 

Pada November 2023, perdagangan dengan China yang merangkumi 17.7% daripada jumlah perdagangan Malaysia menguncup 5.0% tahun ke tahun kepada RM40.95 bilion. Eksport ke China mengurang 8.4% kepada RM17.22 bilion berikutan penurunan eksport barangan E&E, minyak sawit dan keluaran pertanian berasaskan minyak sawit serta kimia dan bahan kimia. Walau bagaimanapun, penyusutan ini telah diimbangi oleh pertumbuhan positif bagi eksport barangan kertas dan palpa, petroleum kondensat dan minyak petroleum lain serta bijih logam dan serpihan logam. Import dari China jatuh 2.4% kepada RM23.73 bilion.

Berbanding Oktober 2023, eksport meningkat 0.6%, manakala perdagangan dan import masing-masing menguncup sebanyak 3.2% dan 5.7%.

Bagi tempoh Januari hingga November 2023, perdagangan dengan China mengurang 7.7% kepada RM410.01 bilion berbanding tempoh yang sama tahun 2022. Eksport menguncup 9.4% kepada RM174.55 bilion berikutan penyusutan eksport barangan E&E, minyak sawit dan keluaran pertanian berasaskan minyak sawit serta barangan besi dan keluli. Di sebalik pengurangan ini, kenaikan eksport telah direkodkan bagi barangan kertas dan palpa, bijih logam dan serpihan logam, kelengkapan pengangkutan dan barangan makanan diproses. Import dari China menurun 6.5% kepada RM235.46 bilion.

AS –Eksport Barangan E&E Kukuh pada 11 Bulan Pertama 2023 

Perdagangan dengan Amerika Syarikat pada November 2023 yang merangkumi 9.6% daripada jumlah perdagangan Malaysia menyusut secara marginal sebanyak 0.7% tahun ke tahun kepada RM22.22 bilion. Eksport mengurang 8.5% kepada RM12.94 bilion disebabkan terutamanya oleh penurunan eksport barangan E&E. Walaupun mencatatkan pengurangan, pertumbuhan eksport direkodkan bagi keluaran getah, jentera, kelengkapan dan peralatan serta barangan kayu. Import dari AS menokok sebanyak 12.8% kepada RM9.28 bilion.

Berdasarkan perbandingan bulan ke bulan, perdagangan dan import masing-masing mengembang sebanyak 0.4% dan 18.4%, manakala eksport mengurang 9.4%.

Dalam tempoh 11 bulan pertama 2023, perdagangan dengan AS menguncup 7.4% kepada RM227.07 bilion berbanding tempoh yang sama tahun 2022. Eksport jatuh 3.3% kepada RM146.68 bilion berikutan pengurangan eksport barangan kayu, keluaran getah serta barangan besi dan keluli. Sementara itu, eksport yang kukuh telah dicatatkan bagi barangan E&E, kelengkapan pengangkutan serta barangan optik dan saintifik. Import dari AS menurun sebanyak 13.9% kepada RM80.40 bilion.

EU – Perdagangan, Eksport dan Import Meningkat, Bulan ke Bulan 

Perdagangan dengan Kesatuan Eropah (EU) yang merangkumi 7.9% daripada jumlah perdagangan Malaysia pada November 2023 menyusut 2.3% tahun ke tahun kepada RM18.23 bilion. Eksport menurun 6.9% kepada RM9.78 bilion disebabkan oleh pengurangan eksport kelengkapan pengangkutan, keluaran petroleum serta minyak sawit dan keluaran pertanian berasaskan minyak sawit. Namun begitu, pengembangan dua digit eksport telah direkodkan bagi barangan E&E, barangan perkilangan berasaskan minyak sawit serta barangan perkilangan logam. Import dari EU meningkat 3.5% kepada RM8.45 bilion.

Pecahan eksport ke 10 pasaran utama EU yang mewakili 93.5% daripada jumlah eksport Malaysia ke rantau ini adalah:

Eksport ke pasaran utama EU yang mencatatkan pertumbuhan adalah Jerman yang meningkat sebanyak RM352.7 juta disumbangkan oleh kenaikan eksport barangan E&E, Itali (↑RM144.4 juta) dan Sepanyol (↑RM51.1 juta), disokong oleh eksport yang kukuh bagi barangan perkilangan berasaskan minyak sawit.

Berbanding Oktober 2023, perdagangan, eksport dan import masing-masing bertambah sebanyak 0.8%, 0.1% dan 1.7%.

Pada tempoh 11 bulan pertama tahun 2023, perdagangan dengan EU menurun 3.0% kepada RM190.00 bilion berbanding tempoh yang sama tahun 2022. Eksport merosot 8.9% kepada RM103.85 bilion berikutan pengurangan eksport minyak sawit dan keluaran pertanian berasaskan minyak sawit, keluaran getah dan keluaran petroleum manakala kenaikan eksport dicatatkan bagi barangan E&E, minyak sayuran lain, barangan makanan diproses serta barangan optik dan saintifik. Import dari EU naik 5.1% kepada RM86.15 bilion.

Jepun – Perdagangan dan Eksport Meningkat, Bulan ke Bulan 

Pada November 2023, perdagangan dengan Jepun yang mewakili 5.8% atau RM13.49 bilion daripada jumlah perdagangan Malaysia, menyusut 15.5% tahun ke tahun. Eksport mengurang 18.3% kepada RM7.29 bilion berikutan penurunan eksport LNG, barangan E&E serta barangan besi dan keluli. Walaupun mencatatkan pengurangan, pertumbuhan dua digit eksport telah direkodkan bagi petroleum mentah, barangan makanan diproses, barangan perkilangan logam, barangan optik dan saintifik, tekstil, pakaian dan kasut, keluaran petroleum serta minyak sayuran lain. Import dari Jepun menguncup 11.9% kepada RM6.20 bilion.

Berdasarkan perbandingan bulan ke bulan, perdagangan dan eksport masing-masing bertambah 5.1% dan 10.6%, manakala import menurun sebanyak 0.8%.

Bagi tempoh Januari hingga November 2023, perdagangan dengan Jepun menurun 14.3% kepada RM143.30 bilion berbanding tempoh yang sama tahun 2022. Eksport menyusut 13.9% kepada RM78.15 bilion berikutan pengurangan eksport LNG, keluaran petroleum serta barangan E&E. Walau bagaimanapun, pertumbuhan dua digit eksport telah direkodkan bagi petroleum mentah serta barangan optik dan saintifik. Import dari Jepun merosot 14.7% kepada RM65.15 bilion.

Perdagangan dengan Rakan Dagang FTA 

Pada November 2023, perdagangan dengan rakan dagang Perjanjian Perdagangan Bebas (FTA) yang menyumbang 67.5% atau RM156.51 bilion kepada jumlah perdagangan Malaysia mengurang 3.8% tahun ke tahun. Eksport ke rakan dagang FTA menyusut 7.2% kepada RM85.75 bilion dan import mengembang sebanyak 0.7% kepada RM70.76 bilion.

Walaupun mencatatkan pengurangan eksport, pasaran yang merekodkan pertumbuhan adalah Republik Korea (ROK) yang mengembang sebanyak 6.8% kepada RM4.96 bilion dan Pakistan, (↑5.1% kepada RM542.6 juta), disokong oleh eksport yang kukuh bagi keluaran petroleum.

Kenaikan eksport turut dicatatkan ke Kanada, naik sebanyak 2.8% kepada RM346.7 juta disokong oleh eksport barangan kayu dan Chile (↑67.9% kepada RM60.1 juta, barangan makanan diproses). Sementara itu, eksport ke Mexico bertambah 18.8% kepada RM1.23 bilion, Australia (↑6.5% kepada RM4.52 bilion) dan Türkiye (↑36.6% kepada RM1.54 bilion) disumbangkan oleh pertambahan eksport barangan besi dan keluli.

Berbanding Oktober 2023, perdagangan, eksport dan import masing-masing menyusut 1.2%, 0.5% dan 2.1%.

Perdagangan dengan rakan dagang FTA dalam tempoh 11 bulan pertama tahun 2023 menyusut 7.3% kepada RM1.628 trilion berbanding tempoh yang sama tahun lepas. Eksport menurun 6.9% kepada RM911.79 bilion dan import jatuh sebanyak 7.8% kepada RM716.66 bilion.

Prestasi Import 

Jumlah import pada November 2023 naik 1.7% tahun ke tahun kepada RM109.69 bilion. Tiga kategori utama import mengikut penggunaan akhir yang merangkumi 73.7% daripada jumlah keseluruhan import adalah:

• Barangan pengantara, bernilai RM56.21 bilion atau 51.2% daripada jumlah import, menyusut 5.2% tahun ke tahun, berikutan pengurangan import alat ganti dan aksesori bagi barangan modal bukan kelengkapan pengangkutan;
• Barangan modal, bernilai RM14.94 bilion atau 13.6% daripada jumlah import, meningkat 53.3%, disumbangkan oleh kenaikan import barangan modal bukan kelengkapan pengangkutan; dan
• Barangan penggunaan, mencecah RM9.72 bilion atau 8.9% daripada jumlah import, berkembang 2.2%, hasil import yang lebih tinggi bagi barangan tahan lama.

Berbanding Oktober 2023, import barangan pengantara, barangan modal dan barangan penggunaan masing-masing meningkat sebanyak 0.8%, 17.7% dan 3.8%.

Bagi tempoh Januari hingga November 2023, import mengurang 7.1% kepada RM1.105 trilion berbanding tempoh yang sama tahun 2022. Import barangan pengantara menurun sebanyak 13.9% kepada RM561.14 bilion, barangan modal (↑5.7% kepada RM116.64 bilion) dan barangan penggunaan (↑0.1% kepada RM94.88 bilion).

Malaysia Maintained Trade Surplus for the 43rd Consecutive Month

In November 2023, Malaysia’s trade decreased at a moderate rate of 2.4% year-on- year (y-o-y) to RM231.79 billion. Exports reached RM122.10 billion, a contraction of 5.9% y-o-y while imports grew by 1.7% to RM109.69 billion. Trade surplus was valued at RM12.41 billion, making it the 43rd consecutive month of trade surplus since May 2020. Malaysia's performance was in tandem with its key trading partners notably Taiwan, ROC and Indonesia which posted negative trade growth in November 2023 and a drop in global imports.

Compared to October 2023, trade, exports, imports and trade surplus fell by 3.1%, 3.2%, 3.1% and 3.8%, respectively.

For the period of January to November 2023, trade declined by 7.5% to RM2.413 trillion compared to the same period last year. Exports decreased by 7.8% to RM1.308 trillion, imports was lower by 7.1% to RM1.105 trillion and trade surplus edged down by 11.3% to RM202.49 billion, respectively.

Export Performance of Major Sectors

Exports of Mining Goods Increased 

In November 2023, exports of manufactured goods which accounted for 83.8% or RM102.38 billion of total exports contracted by 6.7% y-o-y as lower shipments was recorded for electrical and electronic (E&E) products, chemicals and chemical products as well as transport equipment. Despite the decrease, export expansion was recorded for petroleum products, machinery, equipment and parts, manufactures of metal, processed food as well as iron and steel products.

Exports of mining goods recorded the highest monthly value thus far this year, expanding by 0.5% y-o-y to RM10.46 billion (8.6% share). This was the first positive growth after five consecutive months of decline driven by strong exports of crude petroleum as well as petroleum condensates and other petroleum oil.

Exports of agriculture goods (6.9% share) declined by 5.5% to RM8.39 billion compared to November 2022 mainly on lower exports of palm oil and palm oil-based agriculture products that was affected significantly by weaker export prices of palm oil.

Major exports in November 2023: 

• E&E products, valued at RM45.43 billion with a share of 37.2% of total exports, decreased by 13.8% compared to November 2022;
• Petroleum products, RM13.34 billion, 10.9% of total exports, ↑8.2%;
• Palm oil and palm oil-based agriculture products, RM6.07 billion, 5.0% of total exports, ↓10.9%;
• Chemicals and chemical products, RM6.01 billion, 4.9% of total exports, ↓15.7%;and
• Liquefied natural gas (LNG), RM5.63 billion, 4.6% of total exports, ↓14.8%.

On a month-on-month (m-o-m) basis, exports of mining goods recorded a double-digit increase of 19.7% while exports of manufactured and agriculture goods shrank by 4.8% and 5.7%, respectively.

For the period of January to November 2023, exports of manufactured goods slipped by 6.4% to RM1.118 trillion compared to the same period of 2022 owing to lower exports of petroleum products, E&E products, palm oil-based manufactured products as well as chemicals and chemical products. Nonetheless, exports of processed food as well as paper and pulp products posted strong expansion.

Exports of mining goods fell by 11.6% to RM95.38 billion due to lesser shipments of LNG and crude petroleum.

Exports of agriculture goods dropped by 21.6% to RM86.12 billion on lower exports of palm oil and palm oil-based agriculture products due to the decrease in export prices of palm oil.

Trade Performance with Major Markets 

ASEAN – Sustained Exports of Petroleum Products as well as Machinery, Equipment and Parts

In November 2023, trade with ASEAN registered a marginal contraction of 0.2% y-o-y, absorbed 27.3% or RM63.31 billion of Malaysia’s total trade. Exports eased by 5.8% to RM36.41 billion as a result of lesser exports of E&E products. Nevertheless, the contraction was cushioned by robust exports of crude petroleum, petroleum products as well as machinery, equipment and parts. Imports from ASEAN rose by 8.6% to RM26.89 billion.

Breakdown of exports to ASEAN countries:

Exports to ASEAN major markets that recorded growth were Viet Nam which grew by RM1.55 billion supported by strong exports of E&E products and Indonesia, increased by RM209.4 million driven by higher exports of petroleum products.

Compared to October 2023, trade, exports and imports edged down by 1.6%, 0.3% and 3.3%, respectively.

For the period of January to November 2023, trade with ASEAN weakened by 6.3% to RM663.75 billion as opposed to the same period of 2022. Exports dipped by 6.7% to RM387.18 billion following lesser demand for petroleum products, E&E products, chemicals and chemical products as well as palm oil and palm oil-based agriculture products. However, higher exports was registered for non-metallic mineral products, processed food as well as beverages and tobacco. Imports from ASEAN declined by 5.8% to RM276.56 billion.

China – Exports Grew Compared to October 2023 

In November 2023, trade with China which constituted 17.7% of Malaysia’s total trade decreased by 5.0% y-o-y to RM40.95 billion. Exports to China eased by 8.4% to RM17.22 billion due to lower exports of E&E products, palm oil and palm oil-based agriculture products as well as chemicals and chemical products. Nonetheless, the contraction was softened by positive export growth of paper and pulp products, petroleum condensates and other petroleum oil as well as metalliferous ores and metal scrap. Imports from China fell by 2.4% to RM23.73 billion.

Compared to October 2023, exports was higher by 0.6%, while trade and imports shrank by 3.2% and 5.7%, respectively.

For the period of January to November 2023, trade with China decreased by 7.7% to RM410.01 billion over the same period of 2022. Exports was lower by 9.4% to RM174.55 billion following slower shipments of E&E products, palm oil and palm oil- based agriculture products as well as iron and steel products. Despite the decline, export expansion was recorded for paper and pulp products, metalliferous ores and metal scrap, transport equipment and processed food. Imports from China edged down by 6.5% to RM235.46 billion.

The US – Strong E&E Exports in the First 11 Months of 2023 

Trade with the United States (US) in November 2023 which contributed 9.6% to Malaysia’s total trade contracted marginally by 0.7% y-o-y to RM22.22 billion. Exports decreased by 8.5% to RM12.94 billion mainly on lower demand for E&E products. Despite the contraction, export growth was recorded for rubber products, machinery, equipment and parts as well as wood products. Imports from the US rose by 12.8% to RM9.28 billion.

On a m-o-m basis, trade and imports expanded by 0.4% and 18.4%, respectively while exports shrank by 9.4%.

For the first 11 months of 2023, trade with the US slipped by 7.4% to RM227.07 billion as opposed to the corresponding period of 2022. Exports fell by 3.3% to RM146.68 billion owing to lower exports of wood products, rubber products as well as iron and steel products. Meanwhile, solid exports was seen for E&E products, transport equipment as well as optical and scientific equipment. Imports from the US dropped by 13.9% to RM80.40 billion.

The EU – Trade, Exports and Imports Grew M-O-M 

Trade with the European Union (EU) which made up 7.9% of Malaysia's total trade in November 2023 contracted by 2.3% y-o-y to RM18.23 billion. Exports dipped by 6.9% to RM9.78 billion caused by reduced exports of transport equipment, petroleum products as well as palm oil and palm oil-based agriculture products. Conversely, double-digit export expansion was recorded for E&E products, palm oil-based manufactured products as well as manufactures of metal. Imports from the EU edged up by 3.5% to RM8.45 billion.

Within the EU, the top 10 markets which accounted for 93.5% of Malaysia’s total exports to the region were:

Exports to the EU major markets that recorded growth were Germany which increased by RM352.7 million owing to strong exports of E&E products, Italy (↑RM144.4 million) and Spain (↑RM51.1 million), backed by strong exports of palm oil-based manufactured products.

Compared to October 2023, trade, exports and imports grew by 0.8%, 0.1% and 1.7%, respectively.

During the first 11 months of 2023, trade with the EU dropped by 3.0% to RM190.00 billion compared to the corresponding period of 2022. Exports weakened by 8.9% to RM103.85 billion on lower exports of palm oil and palm oil-based agriculture products, rubber products and petroleum products while higher shipments was seen for E&E products, other vegetable oil, processed food as well as optical and scientific equipment. Imports from the EU climbed by 5.1% to RM86.15 billion.

Japan – Trade and Exports Increased M-O-M 

In November 2023, trade with Japan which represented 5.8% or RM13.49 billion of Malaysia’s total trade, eased by 15.5% y-o-y. Exports dipped by 18.3% to RM7.29 billion due to lower shipments of LNG, E&E products as well as iron and steel products. Despite the contraction, double-digit export growth was recorded for crude petroleum, processed food, manufactures of metal, optical and scientific equipment, textiles, apparels and footwear, petroleum products as well as other vegetable oil. Imports from Japan declined by 11.9% to RM6.20 billion.

On a m-o-m basis, trade and exports increased by 5.1% and 10.6%, respectively while imports dropped by 0.8%.

In January to November 2023, trade with Japan was lower by 14.3% to RM143.30 billion compared to the same period of 2022. Exports edged down by 13.9% to RM78.15 billion as a result of reduced demand for LNG, petroleum products as well as E&E products. Nevertheless, double-digit export growth was seen for crude petroleum as well as optical and scientific equipment. Imports from Japan contracted by 14.7% to RM65.15 billion.

Trade with FTA Partners 

In November 2023, trade with Free Trade Agreement (FTA) partners which took up 67.5% or RM156.51 billion of Malaysia’s total trade decreased by 3.8% y-o-y. Exports to FTA partners contracted by 7.2% to RM85.75 billion and imports rose by 0.7% to RM70.76 billion.

Despite the contraction, markets that recorded export growth were the Republic of Korea (ROK) which expanded by 6.8% to RM4.96 billion and Pakistan, (↑5.1% to RM542.6 million), bolstered by strong exports of petroleum products.

Export growth was also registered to Canada, rose by 2.8% to RM346.7 million aided by higher exports of wood products and Chile (↑67.9% to RM60.1 million, processed food). Meanwhile, exports to Mexico expanded by 18.8% to RM1.23 billion, Australia (↑6.5% to RM4.52 billion) and Türkiye (↑36.6% to RM1.54 billion) supported by greater exports of iron and steel products.

Compared to October 2023, trade, exports and imports were lower by 1.2%, 0.5% and 2.1%, respectively.

Trade with FTA partners during the first 11 months of 2023 shrank by 7.3% to RM1.628 trillion as opposed to the same period last year. Exports slipped by 6.9% to RM911.79 billion and imports fell by 7.8% to RM716.66 billion.

Import Performance 

Total imports in November 2023 edged up by 1.7% y-o-y to RM109.69 billion. The three main categories of imports by end use, which accounted for 73.7% of total imports were:

• Intermediate goods, valued at RM56.21 billion or 51.2% of total imports, declined by 5.2% y-o-y, following lower imports of parts and accessories for non-transport capital goods;

• Capital goods, valued at RM14.94 billion or 13.6% of total imports, increased by 53.3%, due to higher imports of non-transport capital goods; and

• Consumption goods, valued at RM9.72 billion or 8.9% of total imports, expanded by 2.2%, as a result of higher imports of durables.

Compared to October 2023, imports of intermediate, capital and consumption goods were higher by 0.8%, 17.7% and 3.8%, respectively.

During the period of January to November 2023, imports eased by 7.1% to RM1.105 trillion compared to the corresponding period of 2022. Imports of intermediate goods dipped by 13.9% to RM561.14 billion, capital goods (↑5.7% to RM116.64 billion) and consumption goods (↑0.1% to RM94.88 billion).

MONDAY, 18 DECEMBER 2023, KUALA LUMPUR: Malaysia External Trade Development Corporation (MATRADE) is set to spearhead an initiative aimed at promoting Malaysian construction and related companies. This effort will be carried out through MATRADE’s Export Acceleration Mission (EAM) on construction and related services to Indonesia, scheduled to take place from 18 – 21 December 2023.

The 4-day mission will feature few series of programs with the Ministry of Public Works and Housing Indonesia (PUPR), Otorita Ibu Kota Nusantara (OIKN), Dinas Penanaman Modal dan Pelayanan Terpadu Satu Pintu (DPMPTSP) Kalimantan Utara, Badan Pengusahaan Kawasan Perdagangan Bebas dan Pelabuhan Bebas Batam (BP Batam), Nusantara Global, Himpunan Pengusaha Muda Indonesia (HIPMI), including presentation and pitching sessions as well as pre-arranged business meetings with potential partners which to be organised by MATRADE. These engagements will promote and enhance exports of Malaysian construction and related services to Indonesia.

Madam Sharimahton Mat Saleh, Deputy CEO of MATRADE expressed, “The construction industry in Indonesia is estimated to reach IDR 333 trillion in 2023, which includes 47% in the civil sector and 53% in the building sector. The Indonesian government is committed to increase investment in the infrastructure sector. MATRADE has organised flagship events and programme dedicated to accelerate Malaysia’s exports of products and services to Indonesia. This ongoing initiative underscores MATRADE’s commitment to assist Malaysian companies in securing potential business prospects through strategic partnerships or joint ventures. Notably, this effort will focus on the emerging opportunities presented by Indonesia’s new capital, Nusantara in Kalimantan.”

The Malaysian delegations, comprising representatives from MATRADE, Kementerian Kerja Raya (KKR), and Invest Selangor, include a total of 24 companies and government department with 45 representatives this year. They offer high-quality services in areas such as construction, architecture, property projects, engineering services, electronics, and infrastructure. The mission is strategically aimed at project creation, development, implementation, and sustainability.

In 2022, Malaysia’s total exports of construction services was valued at RM6.1 billion while imports valued at RM4.8 billion. The overall Malaysia’s export in services stood at RM140.3 billion. Strengths of Malaysian construction sector are attributed by capabilities of Malaysian construction companies to implement projects namely construction of buildings, roads and highways, railways, bridges and airports, water treatment and power plants; steel structure fabrication, installation and erection; mixed development projects including housing, hotels, leisure and luxury residences; and building maintenance, including for high-rise towers.