PETALING JAYA: Malaysia’s trade recorded the 13th successive month of year-on-year (y-o-y) growth last month, rising 3.1% to RM241.95bil compared to January 2024.
In a statement by the Investment, Trade and Industry Ministry (Miti), exports grew for the fourth consecutive month, increasing by 0.3% to RM122.79bil, while imports rose by 6.2% to RM119.16bil.
This resulted in a trade surplus of RM3.63bil, the 57th successive month of surplus since May 2020, it added.
“The export performance in January was driven by robust growth in key sectors, particularly manufacturing and agriculture.
“This year commenced with an impressive monthly performance in electrical and electronics (E&E) exports, which saw an increase of almost RM7bil,” Miti said in a statement yesterday.
Meanwhile, other products that recorded export growth include palm oil and palm oil-based agricultural products, as well as machinery, equipment and parts.
“In January, exports of manufactured goods that made up 84.8% of Malaysia’s total exports rose 0.4% y-o-y to RM104.12bil.”
On imports, Miti noted that the three main categories by end use (which accounted for 76.1% of total imports) were intermediate, capital and consumption goods.
Intermediate goods, valued at RM60.71bil or 51% of total imports, grew by 3.3% y-o-y, contributed by higher imports of parts and accessories of non-transport capital goods.
Capital goods, valued at RM19.97bil or 16.8% of total imports, increased by 45.9%, as a result of increased imports of non-transport capital goods.
Meanwhile, consumption goods, valued at RM10.06bil or 8.4% of total imports, decreased by 2.6%, due to lower imports of non-durables.
“Compared to December 2024, imports edged down by 0.2%. Imports of capital goods rose 15%, while imports of intermediate and consumption goods contracted by 0.4% and 2%, respectively.”
In terms of markets, Miti said exports to the United States and Taiwan posted significant double-digit growth last month, fuelled by rising demand for E&E products, notably semiconductor devices and integrated circuits.
It noted that Malaysia’s trade with major trading partners, namely Asean, China, the United States, Taiwan and the European Union accounted for 70.1% share of Malaysia’s total trade last month.
“In January, trade with the United States, which represented 11.8% of Malaysia’s total trade, expanded by 28.8% y-o-y to RM28.47bil. Exports were up by 28.1% to RM17.25bil and was the 13th consecutive month of y-o-y expansion since January 2024.
“The growth was led mainly by rising demand for E&E products. Imports from the United States climbed 29.9% to RM11.22bil. Compared to December 2024, trade, exports and imports slipped by 8.1%, 8.9% and 6.9%, respectively.”
Miti said trade with Asean in January, which constituted 25.7% of Malaysia’s total trade, reduced by 4.2% y-o-y to RM62.15bil.
“Exports weakened by 1.5% to RM36.78bil, due to slower demand for petroleum products, chemicals and chemical products as well as liquefied natural gas (LNG).
“The contraction however was softened by higher exports of E&E products. Imports from Asean were reduced by 7.9% to RM25.37bil.”
Meanwhile, trade with China, which comprised 17.1% of Malaysia’s total trade, rose 4.7% y-o-y to RM41.43bil.
“Exports edged down by 4% to RM13.32bil owing to reduced exports of LNG, petroleum products as well as metalliferous ores and metal scrap.
“Nonetheless, exports of E&E products as well as palm oil-based manufactured products posted strong expansion. Imports from China grew by 9.4% to RM28.11bil.”
Compared with December 2024, Miti said imports expanded by 2.7% while trade and exports decreased by 11.3% and 31.2%, respectively.
