Malaysia’s trade surplus down in July due to lower exports

Malaysia’s Ministry of International Trade and Industry (MITI) said yesterday (Aug. 19) that the July 2022 trade surplus fell from the previous month due to a decline in exports of industrial and agricultural products.

Malaysia’s trade surplus reached 15.49 billion ringgit ($3.46 billion). Exports rose 8.2% in July from the previous month, while imports increased 4.5%.

Year-on-year, total trade grew 39.8% to 252.65 billion ringgit, export sales increased 38.0% to 134.07 billion ringgit, and imports increased 41.9% to 118.58 billion ringgit.

The report said that export growth was driven by electronics and petroleum products.

Exports to China increased by 9.8% to 15.8 billion ringgit and to the US by 20.5% to 13.3 billion ringgit compared with the previous year.

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