Malaysia June Trade Surplus Narrows

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Wednesday, Malaysia's Department of Statistics said in a preliminary report that the trade surplus stood at MYR 9.12 billion in June, down from MYR 10.02 billion surplus in May. Economists had expected a surplus of MYR 9.6 billion.

Exports dropped 22.6% annually in June to MYR 45.1 billion, after falling 29.7% in May. Economists expected a drop of 25.3%.

Imports declined 20.8% to MYR 35.99 billion compared to a 27.8% decrease in the preceding month. Economists expected imports to drop 25.6%.

On a monthly basis, exports grew 5.1%, while imports rose 9.4% in June.

For the first six months of the year, exports decreased 23.4%, while imports were down 26.3% compared to last year.

Wednesday, Malaysia's Department of Statistics said in a preliminary report that the trade surplus stood at MYR 9.12 billion in June, down from MYR 10.02 billion surplus in May. Economists had expected a surplus of MYR 9.6 billion. (Market News Provided by RTTNews)