KEY FACTS

Malaysia's trade performance was stronger in February 2023, recording a double-digit growth with total trade of RM205.0 billion, grew by 11.0 per cent or RM20.3 billion, year-on-year (y-o-y). Exports increased  9.8  per  cent  to  RM112.3  billion  and  imports  was valued at RM92.7 billion, increased 12.4 per cent compared to the same month in 2022. However, trade surplus decreased 1.3 per cent to RM19.6 billion, the 34th consecutive month of trade surplus since May 2020.

Compared   to  January  2023,  total trade,  exports  and  imports  decreased  by  1.1  per  cent, 0.3 per cent and 1.9 per cent, respectively. Trade surplus grew by 7.9 per cent to RM1.4 billion.

For the period of January to February 2023, the performance of total trade, exports and imports maintained a positive growth. Total trade increased by 6.1 per cent supported by increased exports and  imports  of  5.4  per cent  and  7.0 per cent, respectively, while trade surplus decreased by 1.8 per cent.

A. PERFORMANCE OF EXPORTS

Malaysia's exports recorded RM112.3 billion, an increase of 9.8 per cent as compared to February 2022,  driven  by  both  domestic  exports  and  re-exports. Domestic  exports  amounted  to RM87.5 billion and contributed 77.9 per cent to total exports, up 3.8 per cent. In addition, re-exports with a value of RM24.8 billion, increased 37.6 per cent, y-o-y. Meanwhile, on a monthly basis, exports declined by 0.3 per cent or RM378.6 million. Analysis of the seasonally adjusted terms month-on-month (m-o-m), exports expanded 13.1 per cent or RM14.9 billion to RM128.7 billion.

Chart 1: Domestic Exports, Re-Exports (RM billion) and Annual Change (%)

Chart 2: Actual Export Value and Seasonally Adjusted Export Value, RM billion

B. PERFORMANCE OF IMPORTS

Malaysia's imports in February 2023 continued to grew by 12.4 per cent or RM10.3 billion. On a m-o-m basis, imports decreased by 1.9 per cent or RM1.8 billion. Analysis of seasonal adjustment terms, m-o-m, imports increased 11.4 per cent to RM104.9 billion.

On a y-o-y basis, imports by End Use registered a positive growth with the increases in the intermediate goods (+3.3%) and consumption goods (+1.2%). However, imports of capital goods noted a decrease of 0.3 per cent.

Chart 3: Imports, Value (RM billion) and Annual Change (%)

Chart 4: Actual Import Value and Seasonally Adjusted Import Value, RM billion

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#Notes:

1. The February 2023  data is preliminary and subject to revision in later issues.
2. This report can be accessed through the web portal of the Department of Statistics, Malaysia (https://www.dosm.gov.my) under section: Latest Release.

Released by:

DEPARTMENT OF STATISTICS MALAYSIA
20 March 2023

Contact person:

Baharudin Mohamad 
Public Relation Officer
Strategic Communication and International Division
Department of Statistics, Malaysia
Tel : +603-8885 7942
Fax : +603-8888 9248
Email: baharudin[at]dosm.gov.my