Malaysia: Merchandise exports grow at a quicker pace in August
Latest reading: Merchandise exports soared 17.1% on an annual basis in August, following July’s 10.2% upturn. The figure marked the strongest result since September 2022. Meanwhile, merchandise imports climbed 31.8% in annual terms in August (July: +23.0% yoy), marking the strongest reading since August 2022.
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 1.3 billion surplus in August (July 2024: USD 1.4 billion surplus; August 2023: USD 3.8 billion surplus). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 29.7 billion surplus in August, compared to the USD 32.2 billion surplus in July.