Malaysia Trade Surplus Grows In July

(RTTNews) - The Malaysian foreign trade surplus increased notably in July from a year ago as exports grew faster than imports, data from the statistical office showed on Thursday.

The trade surplus climbed to MYR 22.5 billion in July from MYR 14.8 billion in the same month last year. The surplus also rose from MYR 15.8 billion in June.

Exports jumped 38.0 percent year-on-year in July, driven by both domestic exports and re-exports, with the latter advancing the most by 41.2 percent. Imports also recorded double-digit growth of 36.4 percent.

On a seasonally adjusted basis, exports grew 9.8 percent monthly in July, while imports increased only marginally by 0.1 percent.