Malaysia: Merchandise exports increase in June
July 28, 2022
Merchandise exports soared 30.4% on an annual basis in June, following May’s 22.9% upturn. June’s result marked the largest growth since November 2021. Meanwhile, merchandise imports jumped 40.3% on an annual basis in June (May: +29.3% yoy), marking the strongest reading since May 2021.
As a result, the merchandise trade balance improved from the previous month, recording a USD 5.0 billion surplus in June (May 2022: USD 2.9 billion surplus; June 2021: USD 5.3 billion surplus). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 61.7 billion surplus in June, compared to the USD 62.2 billion surplus in May.
Author: Jonuel Pérez, Junior Economist