Malaysia’s export value expands to RM112.84bil in January

January trade snapshot

Malaysia's total trade grew 1.9% year-on-year to RM207.51 billion in January — the highest figure ever recorded for that month, according to the Ministry of International Trade and Industry (MITI).

Exports rose 1.6% to RM112.84 billion, driven by strong shipments of petroleum products, liquefied natural gas (LNG), and electrical and electronics (E&E) goods. Imports climbed 2.3% to RM94.67 billion, narrowing the trade surplus 2.1% year-on-year to RM18.16 billion.

Month-on-month, shorter working days and long festive holidays in January dragged on trade: total trade fell 11.8%, exports 14.4%, imports 8.6%, and the trade surplus 35.5% — though petroleum, E&E, mining and agriculture exports still expanded.

Exports by destination

Trade with ASEAN rose 5.6% year-on-year to RM55.26 billion, with exports to the region up 10.7% to RM34.1 billion — an 18th straight month of double-digit growth.

"This was underpinned by higher exports of petroleum products and E&E products. Imports from ASEAN declined by 1.8% to RM21.16bil," — MITI

By country: exports to Singapore, Malaysia's largest export market, grew 19% year-on-year to RM17.92 billion. Exports to China fell 11.9% to RM14.98 billion on weaker iron, steel and petroleum shipments, despite gains in chemicals and E&E products. Exports to the US dipped a marginal 0.6%, while exports to Japan rose 13.2%.

On the import side, all three end-use categories — intermediate, capital and consumption goods — declined in January, with Malaysia's two leading import sources, China and Singapore, down 4.9% and 4.1% respectively.

Source: The Star