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Malaysia’s Total Trade in January Surges 24.8% Y-o-Y to RM203 Billions

Malaysia’s total trade in January 2022 surged 24.8% year-on-year (y-o-y) to RM203 billion, with exports soaring 23.5% to RM110.7 billion and imports climbing 26.4% to RM92.3 billion.

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said exports of electrical and electronics (E&E) products amounted to RM44.8 billion (40.4% of total exports) in January 2022.

"At the state level, Penang recorded the highest exports of E&E products worth RM26.2 billion (58.5%), followed by Selangor, with exports worth RM6 billion (13.3%), and Johor at RM4.8 billion (10.7%),” he said in a statement on Monday (March 14).

As for exports, the value recorded in January 2022 increased RM21.1 billion (23.5%) from the same month of the previous year.

Higher exports were recorded in most states, such as Penang (RM5 billion), Johor (RM4 billion), Sarawak (RM3.7 billion), Selangor (RM3.6 billion), Kedah (RM1.8 billion), Sabah (RM1.4 billion), Pahang (RM732.3 million), Labuan (RM713.8 million), Terengganu (RM511 million), Kuala Lumpur (RM278.9 million), Kelantan (RM66.2 million) and Perlis (RM33.1 million).

“However, exports decreased in Perak (RM610.2 million), Melaka (RM197.9 million) and Negeri Sembilan (RM68.9 million),” Mohd Uzir said.

He said imports also increased RM19.3 billion (26.4%) in January 2022 from the same month of the previous year.

Higher imports were mainly contributed by Selangor (RM4.7 billion), Penang (RM4 billion), Johor (RM3.4 billion), Kedah (RM2.4 billion), Kuala Lumpur (RM1.6 billion), Sarawak (RM1.2 billion), Negeri Sembilan (RM673 million), Pahang (RM525.5 million), Melaka (RM151.9 million), Perak (RM143 million), Terengganu (RM115.1 million), Sabah (RM98.2 million) and Perlis (RM22.5 million).

However, imports decreased in Kelantan (RM162.8 million) and Labuan (RM37.9 million).

Among the top five major exporting states, Penang remained as the top exporter with a share of 31.3%, followed by Selangor (19%), Johor (18.3%), Sarawak (7.8%) and Kedah (4.1%).

As for imports, Selangor remained as the largest contributor with a share of 27.3%, followed by Penang (24.4%), Johor (18.9%), Kuala Lumpur (7%) and Kedah (6.6%).

Source: The Edge Markets

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