Malaysia: Merchandise exports drop at a more moderate rate in May
Merchandise exports contracted 3.7% annually in May (April: -20.5% year-on-year). Meanwhile, merchandise imports declined 6.3% in annual terms in May (April: -14.2% yoy).
As a result, the merchandise trade balance improved from the previous month, recording a USD 3.4 billion surplus in May (April 2023: USD 2.9 billion surplus; May 2022: USD 2.9 billion surplus). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 55.2 billion surplus in May, compared to the USD 54.6 billion surplus in April.