skyline at night in Malaysia

Malaysia Trade March 2023

Malaysia: Merchandise exports drop in March

Merchandise exports contracted 7.3% over the same month last year in March, contrasting February’s 5.2% rise. The outturn marked the sharpest decline since May 2020. Meanwhile, merchandise imports decreased 7.7% over the same month last year in March (February: +7.8% yoy), marking the weakest reading since November 2020.

As a result, the merchandise trade balance improved from the previous month, recording a USD 6.0 billion surplus in March (February 2023: USD 4.5 billion surplus; March 2022: USD 6.3 billion surplus). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 57.3 billion surplus in March, compared to the USD 57.7 billion surplus in February.

Analysts at the UOB commented on the outlook:

“Lingering global

recession risks amid a tighter monetary policy environment will continue to suppress global demand this year. Expectations for a tightening of credit conditions following the recent global banking sector turmoil will further amplify the global recession risk and dent business confidence in the near term.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest