Imports to Malaysia dropped by 9.4 percent year-on-year to USD 55.5 billion in February 2019, the most since April 2016, worse than market consensus of a 0.6 percent fall and following a 1 percent rise in the previous month. Purchases fell for intermediate goods (-2.8 percent), mainly driven by industrial supplies processed (-7.4 percent), other fuel & lubricants processed (-43.3 percent) and parts & accessories of capital goods except transport equipment (-5.3 percent). Also, imports declined for consumption goods (-11.6 percent), namely semi-durables (-16.8 percent) and durables (-26.8 percent); and capital (-14.9 percent), of which industrial transport equipment (-51.5 percent). By country, imports went down from China (-27 percent), as sales of electrical & electronic products (-18.9 percent) and refined petroleum products (-73.4 percent) fell the most; and Singapore (-17.2 percent), dragged by refined petroleum products (-35.1 percent) and aluminium (-96.6 percent). Imports in Malaysia averaged 20809.73 MYR Million from 1970 until 2019, reaching an all time high of 80197.13 MYR Million in August of 2018 and a record low of 313.60 MYR Million in August of 1970.
Imports in Malaysia is expected to be 70200.00 MYR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in Malaysia to stand at 72500.00 in 12 months time. In the long-term, the Malaysia Imports is projected to trend around 76800.00 MYR Million in 2020, according to our econometric models.