Malaysia Exports YoYDecember 2022 Data - 1971-2021 Historical - January Forecast

Exports from Malaysia eased by 6% year-on-year to MYR 131.9 billion in December 2022, following a downwardly revised 15.1% advance in the previous month and below market estimates of a 9% rise. It was the lowest growth since July 2021, amid weaker sales of manufacturing products (4.6% vs 15% in November) and mining products (31.6% vs 62%). On the other hand, shipments fell at a softer rate for agricultural products (-0.2% vs -11%). Among top trading partners, the sales increase was led by Singapore (23.1%), the United States (7.9%), and EU countries (20.1%). Sales mainly dropped to China (-12.1%) and Hong Kong (-3.6%). In 2022, the country’s total exports were 25% higher than in the previous year.

Exports from Malaysia advanced by 15.6% from a year earlier to MYR 130.2 billion in November 2022, after a donwardly revised 14.9% rise a month earlier and above market consensus of a 13.2% growth. This was the 27th straight month of rise in shipments, amid continued global demand. Manufacturing exports climbed by 15.0% yoy, boosted by robust demand for electrical and electronic products and petroleum; while shipments of mining jumped 62.6%, driven by LNG and crude petroleum. BY contrast, sales of agriculture fell 11.1%, due to lower exports of palm oil and natural rubber. Higher sales were recorded to Singapore (36.3%), China (9.2%), the US (11.8%), the EU (16.3%), Japan (31.6%), Hong Kong (26.0%), and the ASEAN countries (16.9%). During January to November, shipments expanded by 27.2% from the same period in 2021.

Exports from Malaysia grew by 15.0% from a year earlier to MYR 131.6 billion in October 2022, slowing from a 30.1% jump a month earlier and missing market consensus of a 24.1% growth. While marking the 26th straight month of rise in shipments, the latest result pointed to the softest expansion since July 2021, amid softening foreign demand as cost pressures persisted and some countries faced another wave of COVID infections and curbs. Sector-wise, manufacturing exports grew by 12.6% yoy, lifted by robust demand for electrical and electronic products and petroleum; while shipments of mining surged 85.9%, boosted by LNG and crude petroleum. On the flip side, sales of agriculture shrank 7.0%, due to lower exports of palm oil and natural rubber. Higher sales were recorded to Singapore (26.4%), China (4.3%), the US (8.8%), the EU (7.0%), Japan (25.7%), Hong Kong (18.5%), and the ASEAN countries (25.3%). During January to October, shipments expanded by 28.5% from the same period in 2021.