Malaysia: Merchandise exports contract at a more pronounced pace in June
Merchandise exports sank 18.4% in annual terms in June, on the heels of May’s 3.9% fall. Meanwhile, merchandise imports dived 23.0% over the same month last year in June (May: -6.6% yoy), marking the weakest result since May 2020.
As a result, the merchandise trade balance improved from the previous month, recording a USD 5.6 billion surplus in June (May 2023: USD 3.5 billion surplus; June 2022: USD 5.3 billion surplus). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 56.0 billion surplus in June, compared to the USD 55.7 billion surplus in May.