Malaysia's Trade Surplus Widens in August
Malaysia's trade surplus expanded in August, but exports and imports decreased compared to the previous year. The decline in shipments of electrical and petroleum products contributed to these changes.
KUALA LUMPUR, Malaysia--Malaysia's trade surplus widened in August from the previous month, but exports and imports were lower than a year earlier, driven by a decline in shipments of electrical and petroleum products.
The Southeast Asian nation reported a trade surplus of 17.31 billion ringgit ($3.70 billion), compared with MYR17.09 billion in July.
"Compared to July 2023, trade, exports, imports and trade surplus contracted by 1.5%, 1.4%, 1.6% and 0.3%, respectively," the Ministry of Investment, Trade and Industry said Tuesday.
Compared with the previous year, exports declined 18.6% in August to MYR115.16 billion, and imports fell 21.2% to MYR97.85 billion, the data showed.
Malaysia's exports were estimated to have declined 17.0% from a year earlier, and imports were projected to have fallen 18.2%, resulting in a trade surplus of MYR16.26 billion, according to the median forecast in a Wall Street Journal poll.
August shipments to China dropped 20.3% to MYR14.72 billion, and exports to the U.S. fell 9.7% to MYR13.52 billion.
Below are the figures for Malaysia's trade with its five largest export and import trading partners in August:
Exports Value (MYR Millions) % Change YoY
Imports Value (MYR Millions) % Change YoY