Financial News: Malaysia Trade Surplus Shrinks In September

Malaysia Trade Surplus Shrinks In September

10/18/2024 - 02:41:00 (RTTNews)

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

The trade surplus shrank to MYR 13.2 billion in September from MYR 24.4 billion in the same month last year. Meanwhile, the surplus grew from MYR 5.5 billion in August.

Exports rose only 0.3 percent annually in September as the growth in overall shipments was hindered by a 14.4 percent plunge in re-exports. Nonetheless, domestic exports showed an increase of 3.8 percent.

Data showed that imports grew 10.9 percent annually versus a 26.2 percent surge in August.

On a seasonally adjusted basis, both exports and imports declined by 11.3 percent and 8.7 percent, respectively.

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