KUALA LUMPUR, Dec 19 — Malaysia’s exports decreased by 5.9 per cent to RM122.1 billion in November 2023, due mainly to lower demand for electrical and electronic products, according to the Department of Statistics Malaysia (DOSM).
Chief statistician Datuk Seri Mohd Uzir Mahidin said domestic exports worth RM95.9 billion, which contributed 78.5 per cent to total exports, dropped by 7.4 per cent.
Re-exports amounted to RM26.2 billion, growing marginally by 0.1 per cent compared to November 2022, while November 2023 imports rose by 1.7 per cent versus the same month last year to RM109.7 billion.
Mohd Uzir said 125 out of 257 export groups showed a decline while 146 out of 258 import groups increased compared to the same month last year.
The slower exports was due to a decline mainly to Singapore (-RM3.7 billion) followed by Japan (-RM1.6 billion), China (-RM1.6 billion), Hong Kong (-RM1.2 billion) and the United States (-RM1.2 billion).
“Meanwhile, the higher imports was mainly contributed by Singapore (+RM2.4 billion) followed by Saudi Arabia (+RM1.4 billion), the United States (+RM1.0 billion) and Thailand (+RM545.7 million),” he said.
Commenting further on exports, he said the fall was in line with the drop in electrical and electronic products (-RM7.3 billion); chemical and chemical products (-RM1.1 billion); and transport equipment (-RM1.0 billion).
The rise in imports was from transport equipment (+RM1.8 billion); crude petroleum (+RM1.1 billion) and petroleum products (+RM774.4 million), the statement said, adding that the increase was in line with a higher demand for capital goods and consumption goods.
Capital goods imports rose by 53.3 per cent to RM14.9 billion compared to November 2022, representing 13.6 per cent of total imports.
“Consumption goods (8.9 per cent of total imports), grew by 2.2 per cent to RM9.7 billion from RM9.5 billion a year ago while intermediate goods (51.2 per cent of total imports) saw a 5.2 per cent decrease, or RM3.1 billion, to RM56.2 billion,” he said. — Bernama
