Malaysia: Merchandise exports decrease in July
September 4, 2020
Merchandise exports fell 0.6% in annual and USD terms in July, contrasting June’s 5.3% increase. However, in ringgit terms, exports increased 3.1%, a more moderate expansion compared to the previous month (June: +8.0% yoy). July’s increase was driven by higher shipments of manufactured goods and agricultural commodities.
Meanwhile, merchandise imports plummeted 12.0% on an annual basis and in USD terms July (June: -8.0% yoy). As a result, the merchandise trade balance improved, recording a USD 5.9 billion surplus in July (July 2019: USD 3.9 billion surplus). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 34.8 billion surplus in July, compared to USD 32.8 billion surplus in June.