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Malaysia Trade Balance June 2021

Malaysia: Merchandise exports growth cools in June

Merchandise exports rose 32.1% year-on-year in USD terms in June, on the heels of May’s 55.0% jump. Similarly, exports in ringgit terms grew 27.2% in June, following May’s 47.0% expansion. June’s slowdown was largely attributed to a softer growth in shipments for electronic and electrical goods. That said, exports of petroleum products expanded at a stronger rate in July.

Meanwhile, merchandise imports rose 37.2% year-on-year in USD terms in June (May: +56.5% yoy). In ringgit terms, imports grew 32.1% in June (May: +48.4% yoy). As a result, the merchandise trade balance improved from the previous month, recording a USD 5.4 billion surplus in June (May 2021: USD 3.3 billion surplus; June 2020: USD 4.7 billion surplus). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 57.5 billion surplus in June, compared to the USD 56.7 billion surplus in May.

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