Malaysia: Merchandise exports deteriorate in April
Merchandise exports contracted 20.3% over the same month last year in April, weakening further from March’s 7.3% drop. The downturn marked the sharpest decline since May 2020. Meanwhile, merchandise imports decreased 14.2% over the same month last year in April (March: -7.7% yoy), marking the weakest reading since May 2020.
As a result, the merchandise trade balance worsened from the previous month, recording a USD 2.9 billion surplus in April (March 2023: USD 6.0 billion surplus; April 2022: USD 5.5 billion surplus). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 54.7 billion surplus in April, compared to the USD 57.3 billion surplus in March.