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Financial News: Malaysia August Trade Surplus Falls; Exports Surge

Malaysia August Trade Surplus Falls; Exports Surge

09/20/2022 - 05:03:00 (RTTNews)

(RTTNews) - Malaysia's trade surplus shrunk in August as imports rose at a faster pace than exports, data from the statistical office showed on Tuesday.

The trade surplus decreased to MYR 16.92 billion in August from MYR 21.13 billion in the same month last year. Economists had forecast a surplus of MYR 15.60 billion.

In July, the trade surplus was MYR 15.58 billion.

Exports increased 48.2 percent yearly in August, following a 38.0 percent rise in July. Economists had expected a 34.4 percent rise.

Growth in exports was driven by both domestic exports, up 34.8 percent, and re-exports that rose 24.7 percent from a year ago.

Imports grew 67.6 percent annually in August, following a 41.8 percent increase in the previous month. Economists had expected an increase of 49.4 percent.

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