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Financial News: Malaysia Trade Surplus Falls In May

Malaysia Trade Surplus Falls In May

06/17/2022 - 03:58:00 (RTTNews)

(RTTNews) - Malaysia's foreign trade surplus decreased in May, as imports grew faster than exports, data from the statistical office showed on Friday.

The trade surplus shrank to MYR 12.619 billion in May from MYR 13.754 billion in the corresponding month last year.  

In May, the surplus was MYR 23.48 billion. Economists had forecast a surplus of MYR 19.9 billion.

Exports surged 30.5 percent year-on-year in May, following a 20.8 percent gain in April. That was above the 28.9 percent rise expected by economists.

Imports also registered a double-digit growth of 37.3 percent annually in May, reaching an all-time high at MYR 107.9 billion. The expected increase was 26.9 percent.

On a seasonally adjusted basis, exports advanced 1.1 percent monthly in April and imports rose 6.5 percent.

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