KUALA LUMPUR, Aug 18 ― Malaysia’s trade surplus in July 2023 increased by 7.9 per cent year-on-year (y-o-y) to RM17.09 billion and was the 39th consecutive month of trade...
KUALA LUMPUR, Aug 18 ― Malaysia’s trade surplus in July 2023 increased by 7.9 per cent year-on-year to RM17.09 billion and was the 39th consecutive month of trade surplus since May 2020.
The performance was similar to other regional markets, notably Indonesia, China, Taiwan and South Korea, which recorded negative trade growth for July 2023. For the period of January to July 2023, trade was down by 6.1 per cent to RM1.505 trillion compared with the same period last year. Miti said exports of manufactured goods, which made up 86.7 per cent or RM101.25 billion of total exports, were reduced by 9.8 per cent y-o-y due to lower demand for petroleum products, palm oil-based manufactured products as well as machinery, equipment and parts.
Other major exports in July include petroleum products, which decreased by 48.7 per cent and were valued at RM9.64 billion ; while chemicals and chemical products were down 9.1 per cent to RM5.83 billion .
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