Malaysia’s total trade continued to register a double-digit growth in September 2022, expanding by 31.4 per cent, reaching RM256.9 billion as compared to RM195.5 billion in the preceding year.
Exports increased by 30.1 per cent to RM144.3 billion in September 2022 while imports totalled RM112.6 billion rose by 33.0 per cent year-on-year (y-o-y).
Trade balance continued to record a surplus, with a value of RM31.7 billion, an increase of 20.9 per cent from the previous year.
The Department of Statistics Malaysia (DOSM) released the Malaysia’s Trade Performance, September 2022 report on Oct 28 which stated that in comparison to August 2022, the exports and trade balance increased by 2.2 per cent and 86.1 per cent, respectively. However, imports and total trade showed declines. Correspondingly, imports shrank by 9.4 per cent while total trade decreased by 3.2 per cent.
The total trade, consisting of exports, imports and trade surplus for the third quarter (Q3) of 2022 grew significantly as compared to the Q3 of 2021. Total trade rose by 42.0 per cent, exports (+38.3%), imports (+46.5%), while trade surplus grew 5.6 per cent.
For the period of January to September 2022, the performance of total trade, exports, imports and trade surplus remained resilient with double-digit growth. Total trade grew by 32.9 per cent, supported by the expansion in exports (+30.3%) as well as imports (+36.2%) while trade surplus grew 6.3 per cent.
Malaysia’s exports were recorded at RM144.3 billion which increased by 30.1 per cent as compared to September 2021. The increase was driven by both domestic exports and re-exports.
Domestic exports stood at RM110.5 billion and contributed 76.6 per cent to total exports, grew by 25.9 per cent. On the same note, re-exports with a value of RM33.8 billion, grew by 46.4 per cent y-o-y.
Meanwhile, for monthly comparison, exports also rose by 2.2 per cent or RM3.0 billion.
Analysis of the seasonally adjusted terms month-on-month (m-o-m), exports decreased by 3.1 per cent or RM4.6 billion to RM142.8 billion.
Malaysia’s import value in September 2022 continued to register an increase of 33.0 per cent or RM27.9 billion, reaching RM112.6 billion. On a m-o-m basis, imports dropped by 9.4 per cent or RM11.6 billion. Based on seasonally adjusted terms m-o-m, imports decreased by 7.6 per cent to RM113.4 billion.
On a y-o-y basis, imports by end use registered a positive growth with the increases in the intermediate goods (+35.1%), capital goods (+30.5%) and consumption goods (+28.2%).
Penang Posts Highest Total Trade of RM72.4b In September
Meanwhile, Bernama cited DOSM stating that Penang recorded the highest total trade of RM72.4 billion in September 2022, from Malaysia’s total trade of RM256.9 billion.
In its Export Import Statistics by State, September 2022 released by DoSM, it said Penang also posted higher exports of RM14.4 billion, followed by Johor (RM8.3 billion), Sarawak (RM5 billion), Selangor (RM2.8 billion), Kedah (RM1.5 billion) and Labuan Federal Territory (RM1 billion).
While Sabah, Negeri Sembilan, Terengganu, Melaka and Perlis each registered exports of RM555.8 million, RM371.4 million, RM271.2 million, RM108.8 million and RM63.6 million respectively.
However, exports fell in Kuala Lumpur FT of RM430.4 million, Pahang (RM263.9 million), Perak (RM170.7 million) and Kelantan (RM118 million).
DoSM said, meanwhile, Johor recorded the highest increased in imports with RM9.7 billion, followed by Selangor (RM5.9 billion), Penang (RM3.5 billion), Kedah and Kuala Lumpur FT (each RM1.7 billion), Melaka (RM1.3 billion) and Sarawak (RM1 billion).
While Negeri Sembilan, Perak, Labuan FT, Sabah, Pahang, Terengganu, Perlis and Kelantan each posted higher imports of RM851.8 million, RM682.9 million, RM625.5 million, RM360.5 million, RM199 million, RM95.7 million, RM43.7 million and RM3.4 million.
It said among the top five major exporting states were Penang with 33.2 per cent shares, Johor (21.2 per cent), Selangor (17 per cent), Sarawak (8.5 per cent) and Kuala Lumpur FT (3.3 per cent).
Meanwhile, as for imports, Selangor was the largest contribution with 25.8 per cent, followed by Johor (23.5 per cent), Penang (21.7 per cent), Kuala Lumpur FT (6.6 per cent) and Kedah (6 per cent).
