{"id":24777,"date":"2023-06-20T01:15:36","date_gmt":"2023-06-20T05:15:36","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/malaysias-trade-surplus-widened-in-may\/"},"modified":"2023-06-20T01:15:37","modified_gmt":"2023-06-20T05:15:37","slug":"malaysias-trade-surplus-widened-in-may","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=24777","title":{"rendered":"Malaysia’s Trade Surplus Widened in May"},"content":{"rendered":"
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KUALA LUMPUR, Malaysia–Malaysia’s trade surplus widened in May from the previous month, but exports and imports fell from a year earlier, mainly due to lower shipments of palm oil, palm oil-based agriculture products and electrical products.<\/p>\n

The Southeast Asian nation reported a trade surplus of 15.42 billion ringgit ($3.33 billion), compared with MYR12.85 billion in April.<\/p>\n

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“Compared to April 2023, trade, exports, imports and trade surplus recorded double-digit expansion of 13.2%, 13.7%, 12.6% and 22.1%, respectively,” the Ministry of Investment, Trade and Industry said Tuesday.<\/p>\n

Compared with the previous year, exports declined 0.7% in May to MYR119.61 billion, while imports fell 3.3% to MYR104.19 billion, the data showed.<\/p>\n

Exports were expected to have dropped 10.3% from the year-earlier period, while imports were projected to have fallen 13.8%, resulting in a trade surplus of MYR15.16 billion, according to the median forecast in a Wall Street Journal poll.<\/p>\n

May’s exports of palm oil and palm oil-based agriculture products were 39.2% lower, while exports of electrical and electronic products rose 1.3% and exports of petroleum products climbed 10.5%, the data showed.<\/p>\n

Imports of electrical products declined 19.7%, while imports of petroleum products climbed 9.2%, the ministry said.<\/p>\n

Shipments to China rose 1.5% to MYR15.49 billion, while exports to the U.S. jumped 14.9% to MYR13.77 billion.<\/p>\n

Below are the figures for Malaysia’s trade with its five largest export and import trading partners in May:<\/p>\n

Exports Value (MYR Millions) % Change YoY Total 119,607 -0.7 Singapore 19,598 6.8 China 15,487 1.5 USA 13,770 15 Japan 7,172 2.1 Hong Kong 7,012 -8.5 Imports Value (MYR Millions) % Change YoY Total 104,188 -3.3 China 21,582 -1.4 Singapore 13,602 9.1 USA 7,134 -11 Taiwan 7,118 -15 Japan 6,283 -1.9<\/pre>\n
Write to Ying Xian Wong at yingxian.wong@wsj.com<\/p>\n
<\/pre>\n<\/p><\/div>\n<\/div>\n
Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"
KUALA LUMPUR, Malaysia–Malaysia’s trade surplus widened in May from the previous month, but exports and imports fell from a year earlier, mainly due to lower shipments of palm oil, palm oil-based agriculture products and electrical products. 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