Financial News: Malaysia Trade Surplus Shrinks In October

Malaysia Trade Surplus Shrinks In October

11/19/2024 - 01:30:00 (RTTNews)

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

The trade surplus shrank to MYR 12.0 billion in October from MYR 13.0 billion in the same month last year. The surplus also dropped from MYR 12.8 billion in September.

Exports rebounded 1.6 percent annually in October, driven by 3.1 percent growth in re-exports. On the other hand, domestic exports showed a decrease of 3.5 percent.

Data showed that imports grew 2.6 percent annually versus a 10.9 percent surge in September.

On a seasonally adjusted basis, both exports and imports climbed by 5.8 percent and 0.4 percent, respectively, from a month ago.

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