Amid global economic uncertainty, Malaysia’s total
trade declined by 14.5 per cent or RM33.7 billion in April 2023, to post a value of RM198.0 billion as compared to
RM231.7 billion in the same month of preceding year. The value of exports and
imports also decreased 17.4 per cent to RM105.4 billion and 11.1 per cent to
RM92.6 billion, respectively. Trade balance recorded a double-digit negative growth
of 45.3 per cent with a value of RM12.8 billion in April 2023.
In comparison to March 2023, exports, imports, total
trade and trade surplus experienced a double-digit contraction of 18.7 per
cent, 10.1 per cent, 14.9 per cent and 51.9 per cent, respectively.
The first four months of 2023 also noted a decline in
the performance of exports, imports, total trade and trade surplus. Exports
fell 2.6 per cent to RM460.0 billion while imports amounted RM382.8 billion,
flatten by 0.3 per cent. Concurrently, total trade tapered off by 1.6 per cent
to RM842.8 billion, while trade balance was valued to RM77.2 billion, shrank 12.7
per cent.
Performance of Exports
Malaysia's exports in April 2023 posted a reduction of
17.4 per cent as compared to the same month of 2022, corresponded with the
decline in domestic exports despite marginal increase in re-exports.
Domestic exports accounted for 76.3 per cent of total
exports, declined 22.3 per cent year on year (y-o-y) to RM80.4 billion. Nevertheless,
re-exports increased by 3.8 per cent with a value of RM25.0 billion. Similarly, on a monthly basis, exports decreased 18.7 per cent or
RM24.2 billion. According to an examination of the seasonally adjusted terms
month-on-month (m-o-m), exports decreased by RM20.1 billion or 16.3 per cent to
RM103.1 billion.
Chart 1 : Domestic Exports, Re-Exports (RM
billion) and Annual Change (%)
Chart 2 : Actual Export Value and Seasonally Adjusted
Export Value, RM billion
Performance of Imports
Malaysia's imports showed a downward performance for
two consecutive months with 11.1 per cent or RM11.5 billion y-o-y. On a m-o-m basis, imports decelerated by
10.1 per cent or RM10.4 billion to RM92.6 billion as compared to RM103.0
billion in March 2023. Analysis of seasonal adjustment terms, m-o-m, showed imports
subdued by 11.4 per cent to RM89.7 billion.
On a y-o-y basis, imports by End Use experienced a negative
growth as imports of the intermediate goods and consumption goods decreased by 24.2 per cent and 1.6 per cent respectively. However,
imports of capital goods continued to increase with 11.8 per cent.
Chart 3 : Imports, Value (RM billion) and Annual
Change (%)
Chart 4 : Actual Import Value and Seasonally Adjusted Imports
Value, RM billion
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