Malaysia's imports tumbled 12.5% year-on-year in to MYR 70.4 billion in August 2019, compared to market expectations of a 8% drop and after a 5.9% fall in the previous month. Imports of intermediate goods slumped 13.9%, mainly attributed to industrial supplies (-10.7%), parts & accessories of capital goods except transport equipment (-12%), fuel & lubricants (-38%) and fuel & lubricants (-97.4%). Imports of capital goods tumbled 31%, due to a decline in both capital goods except transport equipment (-23.3%) and transport equipment, industrial (-70.6%). Also, purchases of consumption goods shrank 12.8%, mainly attributed to semi-durables (-30.7%) and durables (-38.4%). By country, purchases from China contracted 11.5%, mainly due to electrical & electronic/E&E products. Also, imports from Singapore shrank 18.1%, dragged down by refined petroleum products E & E products. In additions, arrivals from the ASEAN countries slumped 16.9% and those from the EU countries tumbled 20.3%. Imports in Malaysia averaged 21381.46 MYR Million from 1970 until 2019, reaching an all time high of 80536.08 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 72500.00 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 67000.00 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.