Malaysia: Merchandise exports gain steam in May
Merchandise exports soared 23.0% annually in May, following April’s 16.7% jump. May’s result marked the most robust growth rate since December 2021. Meanwhile, merchandise imports climbed 29.4% in annual terms in May (April: +18.0% yoy), marking the strongest reading since November 2021.
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 2.9 billion surplus in May (April 2022: USD 5.5 billion surplus; May 2021: USD 3.3 billion surplus). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 62.1 billion surplus in May, compared to the USD 62.6 billion surplus in April.