Financial News: Malaysia Trade Surplus Declines Sharply To MYR 5.7

Malaysia Trade Surplus Declines Sharply To MYR 5.7 Bln

09/19/2024 - 03:10:00 (RTTNews)

(RTTNews) - The Malaysian foreign trade surplus decreased notably in August from a year ago as imports grew much faster than exports, data from the statistical office showed on Thursday.

The trade surplus shrank to MYR 5.7 billion in August from MYR 17.3 billion in the same month last year. The surplus also declined from MYR 6.4 billion in July.

Exports climbed 12.1 percent annually in August amid strong growth of 15.5 percent in domestic exports, while imports surged 26.2 percent.

Data showed that re-exports fell by 1.2 percent, and imports by end use recorded an increase for all three major categories.

On a seasonally adjusted basis, exports dropped 1.1 percent over the month, while imports advanced by 1.1 percent.

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