Imports to Malaysia rose by 1 percent year-on-year to USD 73.9 billion in January 2019, the same as in the previous month, but below market consensus of 1.2 percent. Purchases of consumption goods increased 3.3 percent, mainly attributed to non-durables (13.5 pct) and durables (16.4 pct). In contrast, imports of capital good fell 3.3 percent, largely due to transport equipment, industrial (-50.2 pct). Also, purchases of intermediate goods edged down 0.8 percent, mainly led by parts & accessories of capital goods except transport equipment (-14.5 pct) and fuel & lubricants processed, others (-45.2 pct). By country, imports from China advanced 17.5 percent, with refined petroleum products (128.7 pct) and electrical & electronic products (5.2 pct) expanding the most. Conversely, purchases from Singapore shrank 16.4 percent, driven by refined petroleum products (-37.4 pct) and electrical & electronic products (-9.9 pct). 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.