Malaysia’s total trade in 2019 decreased by
2.5% to RM1.8 trillion, compared with
RM1.9 trillion in 2018. Exports declined by
1.7% to RM986.4 billion, while imports were lower by
3.5% to RM849.0 billion, resulting in a trade surplus of
RM137.4 billion (+11.0%). This was the 22nd consecutive year of trade surplus for Malaysia since 1998.
In 2019, Malaysia recorded trade
surpluses with Hong Kong, Singapore, the United States of America, the European Union, Thailand and Japan. Trade deficits were recorded with China, Taiwan, Indonesia and Republic of Korea.
Malaysia Non-E&E that accounted for 66.3% of Total Trade
dropped 1.8% in 2019 to RM1.2 billion. Non-E&E Exports and Imports contracted by 1.3% and 2.2% respectively. Non-Oil Trade which constituted 85.6% of Malaysia Total Trade in 2019, was lower by 1.9% to RM1.6 billion. Non-Oil Exports and Imports
declined by 0.3% and 3.7% respectively.
Meanwhile, total trade in
December 2019 stood at RM160.2 billion, increased by 1.9% year-on-year (y-o-y) after 6 consecutive months of decrease since June 2019. Both exports and imports registered an increase of 2.7% and 0.9% respectively. Trade surplus in December 2019 was valued at RM12.6 billion, picked up by 14.7% compared to December 2018.
increase in exports was driven by domestic exports, expanded by 3.3% to RM72.1 billion. Meanwhile, re-exports continued to record a decrease since February 2019 by 0.3% to RM14.3 billion. Imports grew 0.9% to RM73.8 billion. Higher exports were registered to China (+RM2.1 billion), the United States (+RM1.2 billion), Indonesia (+RM979.4 million), Taiwan (+RM721.6 million) and Viet Nam (+RM353.3 million). Higher imports were recorded from the United Arab Emirates (+RM1.9 billion), Japan (+RM857.0 million) and China (+RM473.7 million).