Malaysia Trade Surplus Grows In July

(RTTNews) - The Malaysian trade surplus increased in July as imports fell faster than exports, data from the statistical office showed on Friday.

The trade surplus rose to MYR 17.1 billion in July from MYR 15.8 billion in the same month last year.

In June, the trade surplus was MYR 25.5 billion.

Exports fell 13.1 percent yearly in July, slower than the 14.1 percent decline a month ago.

The decline in shipments was mainly driven by lower re-exports, which fell 13.5 percent from last year, closely followed by domestic exports with a 13.0 percent decrease.

Imports plunged 15.9 percent annually in July, following an 18.7 percent fall in the previous month.

On a seasonally adjusted basis, both exports and imports increased by 0.1 percent and 1.3 percent, respectively, from a month earlier.