The Malaysian trade surplus saw a significant reduction in August compared to the same period last year, driven primarily by a more rapid increase in imports relative to exports, according to data released by the statistical office on Thursday.
The trade surplus diminished to MYR 5.7 billion in August from MYR 17.3 billion a year earlier. This decline was also evident compared to the MYR 6.4 billion recorded in July.
In August, exports increased by 12.1 percent year-over-year, fueled by a robust 15.5 percent growth in domestic exports. However, imports surged by 26.2 percent during the same period.
Detailed data indicated a 1.2 percent drop in re-exports, while imports by end use saw a rise across all three major categories.
On a seasonally adjusted basis, exports decreased by 1.1 percent month-over-month, whereas imports recorded a 1.1 percent increase.