Malaysia: Merchandise exports contract at a slower rate in July
Merchandise exports sank 15.9% over the same month last year in July, following June’s 18.4% plunge. Meanwhile, merchandise imports plunged 18.6% over the same month last year in July (June: -22.8% yoy).
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 3.7 billion surplus in July (June 2023: USD 5.5 billion surplus; July 2022: USD 3.6 billion surplus). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 56.1 billion surplus in July, compared to the USD 55.9 billion surplus in June.