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Financial News: Malaysia Trade Surplus Rise Less Than Expected

Malaysia Trade Surplus Rise Less Than Expected

08/19/2022 - 03:45:00 (RTTNews)

(RTTNews) - Malaysia's trade surplus rose less than expected in July, as exports and imports rose at a softer pace, data from the statistical office showed on Friday.

The trade balance logged a surplus of MYR 15.5 billion in July. Economists had forecast a surplus of MYR 17.7 billion. The trade surplus grew 14.3 percent from the same month last year.

Exports increased 38.0 percent yearly in July, after a 38.8 percent growth in June. That was above the 36.5 percent rise economists had expected.

Growth in exports was driven by both domestic exports, up 33.4 percent, and re-exports rising 55.1 percent from a year ago.

Imports grew 41.9 percent annually in July, after 49.3 percent increase in the previous month. Economists had expected an increase of 40.4 percent.

On a seasonally adjusted basis, exports decreased 12.4 percent monthly in July and imports fell 10.0 percent.

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