Malaysia’s import sector in January 2024 displayed notable dynamics across various categories, shedding light on the nation’s economic activities and consumption patterns. Analysis of import performance reveals insights into the importation of intermediate goods, capital goods, and consumption goods, along with significant changes in import values.
Intermediate goods, representing a substantial portion of Malaysia’s imports at 52.3% of the total, witnessed a robust increase of 21.4% year-on-year, totaling RM58.79 billion. This growth was primarily driven by higher imports of processed industrial supplies.
Capital goods, comprising 12.2% of total imports, surged by 41.8% year-on-year to RM13.72 billion. This substantial increase in capital goods imports points towards non-transport capital goods.
Consumption goods, accounting for 9.2% of total imports, expanded by 25.4% year-on-year, reaching RM10.34 billion. The notable growth in consumption goods imports suggests increased consumer spending and domestic demand within Malaysia, with higher imports observed particularly in processed food and beverages for household consumption.
Import Performance Comparison
Comparing Malaysia’s import performance in January 2024 to previous months or years unveils trends and shifts in import patterns, providing valuable insights into the country’s economic dynamics and trade activities.
In January 2024, total imports surged by 18.8% year-on-year to RM112.3 billion, indicating robust economic activity and demand for goods within Malaysia.
Compared to previous months or years, January 2024 witnessed significant increases in imports across various categories, notably intermediate goods and capital goods. This suggests heightened industrial and investment activities, driving economic growth and development within Malaysia.
Overall, the import sector analysis and performance comparison underscore Malaysia’s vibrant economic landscape and its role as a dynamic player in global trade. The trends observed in import patterns reflect the nation’s resilience and ability to adapt to evolving market conditions, contributing to sustained economic growth and prosperity.
Source: Ministry of Investment, Trade and Industry
