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Financial News: Malaysia Exports Fall Unexpectedly In August

Malaysia Exports Fall Unexpectedly In August

09/28/2020 - 02:22:00 (RTTNews)

(RTTNews) - Malaysia's exports fell unexpectedly in August, data from the Department of Statistics showed on Monday.

Exports fell 2.9 percent year-on-year to MYR 79.1 billion in August, reversing a 3.1 percent increase in July. Economists had expected a 4.8 percent rise.

Imports declined 6.5 percent annually to MYR 65.9 billion in August, following an 8.7 percent fall in the previous month. Economists had forecast a fall of 4.3 percent.

As a result, the trade surplus declined to MYR 13.2 billion in August from MYR 25.2 billion. Economists had expected a surplus of MYR 17.9 billion.

On a monthly basis, exports fell 14.5 percent in August and imports decreased 2.2 percent.

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