Malaysia External Trade Statistics December 2014
Malaysia External Trade Statistics December 2014
Malaysia External Trade Statistics December 2014
DECEMBER 2014
Supported by stronger than expected export growth, Malaysias total trade in 2014
continued on an upward trend, expanding by 5.9% to reach RM1.45 trillion, compared
with RM1.37 trillion in 2013.
Exports in 2014 rose by 6.4% or RM46.14 billion to RM766.13 billion, surpassing the
forecast export growth of 6% in the 2014/2015 Economic Report.
DECEMBER 2014
With the exception of commodities export such as palm oil and rubber, other
exports to the PRC continued to be sustained. Higher export were recorded for
E&E products (RM2.81 billion), petroleum products (RM685.2 million),
transport equipment (RM242.6 million) and optical and scientific equipment
(RM299.5 million);
16 markets which registered higher exports of over RM1 billion were Singapore, the
USA, India, Hong Kong, Australia, Japan, Taiwan, the Netherlands, the Philippines,
the Republic of Korea (ROK), Kenya, Germany, Norway, Mexico, the United Kingdom
and Vietnam. These countries accounted for 64.7% of Malaysias total exports.
Trade with the FTA partner countries registered a growth of 3.9% to RM906.6 billion
with exports expanding 4.7% to RM491.35 billion and imports growing at 2.9% to
RM415.25 billion. Expansion in exports to the FTA partner countries were contributed
by higher exports of liquefied natural gas (LNG), petroleum products, E&E products,
crude petroleum as well as chemicals. FTA countries contributed 64.1% of Malaysias
DECEMBER 2014
total exports in 2014. It is estimated that close to 49% of exports to FTA partner
countries were through preferential access.
In 2014, exports to all ASEAN markets registered increases except for Indonesia.
Exports to Indonesia declined by 4.1% or RM1.35 billion due mainly to lower exports
of refined petroleum which declined by RM1.15 billion.
Imports from ASEAN increased by 1.5% to RM175.45 billion. Main imports from
ASEAN were petroleum products, E&E products as well as chemicals.
The PRC remained as Malaysias largest trading partner for the sixth consecutive year
since 2009. Malaysias trade with the PRC increased by 2.2% to RM207.85 billion.
DECEMBER 2014
smartphones and handheld devices. Share of E&E exports to the PRC expanded from
41.5% to 46.6% in 2014. Export of E&E products mainly electronic integrated circuits,
petroleum products as well as optical and scientific equipment, primarily oscilloscopes
and oscillographs and other instruments and apparatus specially designed for
telecommunications recorded increases.
Structural changes and reforms in the PRC had impacted exports of certain products.
Strategies to enhance Malaysias exports to the PRC in line with Chinas changing
requirements are being formulated.
The PRC continued to be the largest source of imports for Malaysia, increasing by
8.7% to RM115.5 billion. A total 41.6% of imports from the PRC is E&E products while
46.6% of Malaysias export to the PRC is also in the same sector. This shows the
deep integration of the supply chain between both countries.
Manufactured exports expanded by 6.2% or RM2.07 billion with the highest expansion
for E&E products, manufactures of metal, chemicals, manufactures of plastics as well
as optical and scientific equipment. Strong export growth was seen for electronic
integrated circuits, television reception apparatus, photosensitive semiconductor
devices and aircraft parts as a result of Japanese investment in Malaysia.
DECEMBER 2014
Major imports from Japan were E&E products, machinery, appliances and parts as
well as transport equipment, mainly passenger motor vehicles and automotive parts
and components.
Strong exports to selected economies in the EU pushed trade with the EU up by 6.2%
to RM143.98 billion. Exports to the EU registered a double digit growth of 11.6% to
RM72.84 billion as economic activities began to expand in several countries in the
region. Share of exports to the EU increased from 9.1% to 9.5%.
Main driver of increased exports to the EU was E&E products, primarily electronic
integrated circuits. Increasing consumption as well as recovery in exports have
stimulated demand for intermediate goods in Germany while growing popularity of
smart devices have boosted demand for E&E components and parts in the EU.
Other exports that registered significant increases to the EU were palm oil, chemicals,
optical and scientific equipment, machinery, appliances and parts, transport
equipment, textiles, clothing and footwear as well as manufactures of metal.
Imports from the EU increased by 1.1% to RM71.14 billion. Main import products were
E&E products, transport equipment as well as machinery, appliances and parts.
DECEMBER 2014
With higher purchasing power and improvements in the labour market, domestic
demand in the USA for manufactured goods was elevated and this boosted Malaysias
exports to the USA. Exports recorded a double digit growth of 11% to RM64.41 billion,
while imports increased by 3.3% to RM52.33 billion resulting in total trade of
RM116.75 billion, an increase of 7.4% over the past year.
Malaysias E&E exports to the USA surged by 11.2% or RM3.68 billion in 2014. The
increase was due to higher exports of apparatus for transmission or reception of
voice, images and other data as well as electronic integrated circuits needed for the
consumer electronics industry, including smartphones, computer tablets, televisions,
audio and visual equipment. According to the Consumer Electronics Association
forecast, U.S sales of consumer electronics devices will continue to grow by 3% in
2015 to USD223 billion. Other products that recorded significant increases in exports
were chemicals, optical and scientific equipment, machinery, appliances and parts,
frozen seafood as well as textiles,clothing and footwear.
In 2014, India was Malaysias 8th largest export market, arising to notch from its 10th
place in 2013. Exports to the country rose by 23.9% or RM6.16 billion to RM31.9
billion, with higher exports of palm oil (RM2.33 billion), crude petroleum (RM1.82
billion) as well as chemicals (RM536.5 million). Other products that registered
increases were furniture, textiles, clothing and footwear as well as processed food.
Total trade with India increased by 7.5% to RM45.24 billion.
DECEMBER 2014
With more promotion initiatives, exports to Africa grew by 11% to RM19.47 billion.
Markets with significant export growth included:
Major exports to Africa were petroleum products, palm oil, processed food, chemicals
and E&E products.
RM39.11 billion to
RM587.25 billion and accounted for 76.7% of total exports during the period. Exports
of almost all manufactured goods registered increases.
Higher demand for E&E products was led by electronic integrated circuits which grew
by 17.8% to reach RM92.21 billion and followed by:
DECEMBER 2014
Parts and accessories for television, radio, transmission apparatus and other
telecommunication apparatus, 30.7% to RM4.15 billion; as well as
Export markets with significant increases for E&E products were Hong Kong, the USA,
the PRC, Taiwan, Japan and Mexico. The recovery in the EU and stronger
manufacturing activities in ASEAN, saw increased exports of E&E products to these
markets. Exports of E&E products to the EU and ASEAN increased by RM4.92 billion
and RM694.6 million, respectively.
Other manufactured products that contributed to the growth in exports for 2014 were:
Exports of mining goods increased by 6.8% or RM6.66 billion to RM104.6 billion due
to the increase in exports of LNG and crude petroleum which grew by 7.9% and 6.8%,
respectively. For LNG, the average unit price was elevated by 5.5% while export
quantity up by 2.3%. Export quantity for crude petroleum grew by 9.5% while average
unit price dropped by 2.5%.
8
DECEMBER 2014
Imports in 2014
Higher demand of intermediate goods for manufacturing activities was the primary
factor for imports to rise by 5.3% to RM683.02 billion.
The largest category of imports was manufactured goods, accounting for 86.3% of
Malaysias total imports. Major imports of manufactured goods in 2014 were:
The PRC was the largest import source, followed by Singapore, Japan, the USA,
Thailand and Taiwan. These countries accounted for 55.9% of total imports. ASEAN
contributed RM175.45 billion or 25.7% of Malaysias total imports for the year 2014.
DECEMBER 2014
Malaysias total trade in December 2014 increased by 3.4% from a year ago to
RM126.19 billion. Increases in trade were recorded with:
Imports in December 2014 increased by 4.2% to RM58.5 billion from December 2013.
The three main categories of imports by end use were:
DECEMBER 2014
It should be noted that, conceptually, the export and import figures in the external trade statistics are different
from that in the goods account of the balance of payments compilation. The compilation of international
merchandise trade statistics is usually based on customs records, which essentially reflect the physical
movement of goods across borders, and follow international guidelines on concepts and definitions, which do
not fully conform to the principles of the System of National Accounts (SNA) and the Balance of Payments
Compilation. Goods are defined in the SNA as physical objects for which a demand exists, over which
ownership rights can be established and whose ownership can be transferred from one institutional unit to
another by engaging in transactions on markets.
This is a preliminary release, full details would be published in the MONTHLY EXTERNAL TRADE
STATISTICS report by the Department of Statistics, Malaysia, to be disseminated at 1200 hours, Thursday,
th
5 February 2015.
+
This report can be accessed through the homepages of the Department of Statistics, Malaysia
(http://www.statistics.gov.my) under Latest Releases: Malaysian External Trade Statistics, Ministry of
International Trade and Industry (http://www.miti.gov.my) and Malaysia External Trade Development
Corporation (http://www.matrade.gov.my).
The December 2014 data is provisional and subject to revision in later issue.
11
DECEMBER 2014
Year/
Period
2013f
January
February
March
April
May
June
July
August
September
October
November
December
Total Exports
(RM Million)
Total Imports
(RM Million)
Trade
Balance
(RM Million)
Total Trade
(RM Million)
57,080.0
52,493.3
60,049.4
55,836.6
55,656.7
56,648.8
60,629.6
62,795.9
63,283.5
67,193.6
62,408.6
65,916.3
53,724.6
44,254.8
55,111.5
54,771.3
52,922.5
52,423.2
57,864.0
55,788.8
54,599.3
58,561.7
52,523.6
56,149.8
3,355.4
8,238.5
4,937.9
1,065.3
2,734.2
4,225.6
2,765.6
7,007.2
8,684.2
8,631.9
9,885.0
9,766.6
110,804.6
96,748.1
115,160.9
110,607.8
108,579.2
109,072.1
118,493.6
118,584.7
117,882.8
125,755.3
114,932.1
122,066.1
719,992.4
648,694.9
71,297.5
1,368,687.3
January
63,973.9
57,618.8
6,355.1
121,592.8
February
58,912.2
48,475.5
10,436.8
107,387.7
March
April
May
June
July
August
September
October
November
December
64,963.9
66,239.5
64,817.7
61,225.6
61,118.4
63,881.8
64,523.9
65,051.9
63,727.3
67,692.4
55,434.5
57,497.2
59,172.3
57,120.6
57,479.8
60,019.8
55,194.1
63,904.0
52,600.4
58,499.1
9,529.4
8,742.3
5,645.4
4,105.0
3,638.5
3,862.0
9,329.8
1,147.8
11,126.9
9,193.3
120,398.5
123,736.7
123,990.0
118,346.2
118,598.2
123,901.6
119,718.0
128,955.9
116,327.7
126,191.6
766,128.5
683,016.3
83,112.2
1,449,144.8
2013f
2014p
2014p
12
DECEMBER 2014
Products
Total Exports
Electrical & Electronic Products
Petroleum Products
LNG
Chemicals & Chemical Products
Palm Oil (includes crude palm oil; fractionated
palm oil; and palm kernel oil, olein and
stearin)
Crude Petroleum
Machinery, Appliances & Parts
Manufactures of Metal
Optical & Scientific Equipment
Rubber Products
Jan-Dec
2014p
RM Million
766,128.5
256,145.0
70,356.8
64,288.9
51,509.2
Jan-Dec
2013f
RM Million
719,992.4
236,981.8
68,369.2
59,567.0
47,470.1
46,953.3
33,790.1
30,010.9
26,451.1
23,639.3
18,004.4
45,916.3
31,642.9
27,068.3
28,164.3
20,836.7
18,943.1
Markets
Total Exports
Singapore
PRC
Japan
USA
Thailand
Hong Kong
Australia
India
Indonesia
ROK
13
Jan-Dec
2013f
RM Million
719,992.4
100,256.6
97,043.0
79,196.7
58,054.9
39,923.3
31,251.1
29,225.1
25,735.1
33,110.4
26,199.2
DECEMBER 2014
Products
Total Exports
Electrical & Electronic Products
LNG
Petroleum Products
Chemicals & Chemical Products
Palm Oil (includes crude palm oil;
fractionated palm oil; and palm kernel oil,
olein and stearin)
Manufactures of Metal
Machinery, Appliances & Parts
Crude Petroleum
Optical & Scientific Equipment
Rubber Products
December
2014p
RM Million
67,692.4
23,312.3
6,335.8
5,394.4
4,714.9
November
2014p
RM Million
63,727.3
22,977.7
5,210.2
4,751.8
4,282.5
December
2013f
RM Million
65,916.3
20,292.3
5,611.1
8,184.1
3,952.3
3,869.0
2,834.5
2,707.1
2,325.9
1,917.1
1,549.6
3,435.6
2,320.2
2,460.6
2,811.4
1,915.5
1,540.6
4,145.6
2,539.6
2,580.7
3,617.6
1,849.2
1,642.6
December
2014p
RM Million
67,692.4
9,539.4
8,800.4
7,042.7
6,103.7
3,356.8
3,265.0
3,185.0
2,845.3
2,273.6
2,256.8
November
2014p
RM Million
63,727.3
8,900.9
8,522.4
7,510.5
5,556.6
3,573.6
1,735.9
3,005.4
2,492.5
2,224.5
2,697.1
December
2013f
RM Million
65,916.3
9,016.2
10,344.4
6,982.0
4,767.8
3,358.7
2,302.1
3,149.1
2,401.2
1,719.5
3,219.3
Markets
Total Exports
Singapore
PRC
Japan
USA
Thailand
ROK
Hong Kong
India
Netherlands
Indonesia
14
DECEMBER 2014
Products
Total Imports
Electrical & Electronic Products
Petroleum Products
Chemicals & Chemical Products
Machinery, Appliances & Parts
Manufactures of Metal
Transport Equipment
Iron & Steel Products
Optical & Scientific Equipment
Processed Food
Crude Petroleum
Jan-Dec
2013f
RM Million
648,694.9
179,616.5
73,652.8
55,872.9
54,571.5
40,672.4
42,089.9
26,085.8
21,873.1
17,657.8
15,578.4
Markets
Total Imports
PRC
Singapore
Japan
USA
Thailand
Taiwan
ROK
Indonesia
Germany
Australia
15
Jan-Dec
2013f
RM Million
648,694.9
106,264.8
80,249.2
56,359.9
50,682.4
38,632.5
31,530.3
30,653.0
27,943.8
22,912.1
16,491.9
DECEMBER 2014
Products
Total Imports
Electrical & Electronic Products
Petroleum Products
Chemicals & Chemical Products
Machinery, Appliances & Parts
Manufactures of Metal
Transport Equipment
Iron & Steel Products
Crude Petroleum
Optical & Scientific Equipment
Processed Food
December
2014p
RM Million
58,499.1
16,304.6
6,161.6
5,057.4
4,994.0
4,282.5
3,686.8
2,116.3
2,030.0
1,413.8
1,271.4
November
2014p
RM Million
52,600.4
15,366.0
4,629.9
5,084.5
4,506.9
3,895.6
2,955.8
1,759.7
1,816.8
1,320.8
1,560.1
December
2013f
RM Million
56,149.8
14,896.1
7,167.0
4,606.6
4,667.3
2,720.8
5,199.6
2,141.3
1,662.0
1,240.1
1,189.7
December
2014p
RM Million
58,499.1
10,961.1
6,911.3
4,843.1
4,553.4
3,552.2
2,916.0
2,528.9
2,497.1
1,945.3
1,609.7
November
2014p
RM Million
52,600.4
9,854.0
6,027.2
4,000.4
4,147.4
3,296.6
2,785.2
2,239.5
2,043.6
1,807.5
1,630.0
December
2013f
RM Million
56,149.8
9,292.3
7,135.2
4,445.2
4,604.7
3,480.1
2,950.1
2,823.1
2,394.5
1,704.6
1,215.7
Markets
Total Imports
PRC
Singapore
USA
Japan
Thailand
Taiwan
ROK
Indonesia
Germany
Australia
Notes:
p - provisional data
f - final data
16
Jan
Feb
Mar
Apr
May
June
July
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
June
July
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
July
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
2007
2008
DECEMBER 2014
RM billion
140
Total Trade
2009
2010
17
2011
Year/m onth
2012
2013
126.19
120
100
80
Exports
67.69
60
Im ports
58.50
40
20
Trade Balance
2014p
9.19