Malaysia: Merchandise exports rebound in July
Merchandise exports shot up 10.2% year-on-year in July (June: -0.0% yoy). July’s outturn marked the strongest print since September 2022 thanks to robust demand for commodities and electronics plus rising shipments to advanced economies. Meanwhile, merchandise imports jumped 23.0% on an annual basis in July (June: +15.8% yoy), marking the strongest result since August 2022.
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 1.4 billion surplus in July (June 2024: USD 3.0 billion surplus; July 2023: USD 3.8 billion surplus). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 32.2 billion surplus in July, compared to the USD 34.6 billion surplus in June.