Malaysia: Merchandise exports decline in August
Merchandise exports dived 21.2% on an annual basis in August, following July’s 15.9% plummet. The figure marked the worst decline since May 2020. Meanwhile, merchandise imports plummeted 23.7% on an annual basis in August (July: -18.8% yoy), marking the weakest reading since May 2020.
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 3.8 billion surplus in August (July 2023: USD 3.8 billion surplus; August 2022: USD 3.9 billion surplus). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 56.0 billion surplus in August, compared to the USD 56.2 billion surplus in July.