Malaysia: Merchandise exports increase at a faster pace in August
Merchandise exports shot up 40.0% in annual terms in August (July: +30.6% year-on-year). The figure marked the strongest increase since May 2021. Meanwhile, merchandise imports jumped 58.3% on an annual basis in August (July: +34.2% yoy), marking the strongest reading since March 2010.
As a result, the merchandise trade balance improved from the previous month, recording a USD 3.8 billion surplus in August (July 2022: USD 3.5 billion surplus; August 2021: USD 5.0 billion surplus). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 61.0 billion surplus in August, compared to the USD 62.2 billion surplus in July.