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Financial News: Malaysia Trade Surplus Decrease In June

Malaysia Trade Surplus Decrease In June

07/20/2022 - 06:07:00 (RTTNews)

(RTTNews) - Malaysia's foreign trade surplus fell in June, as imports rose more than exports, data from the statistical office showed on Wednesday.

The trade surplus fell to MYR 21.931 billion in June from MYR 22.100 billion in the corresponding month last year.

In May, the surplus was MYR 12.698 billion. Economists had forecast a surplus of MYR 18.1 billion.

Exports gained 38.8 percent yearly in June, following a 30.4 percent rise in May. That was above the 20.1 percent rise economists had expected.

The latest export growth was the highest since May last year, when it rose 47.1 percent.

Imports grew 49.3 percent annually in June, following a 37.3 percent increase in the previous month. Economists had forecast an increase of 30.4 percent.

On a seasonally adjusted basis, exports increased 19.5 percent monthly in June and imports rose 19.2 percent.

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