Malaysia Trade Surplus Grows Sharply In May

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

The trade surplus climbed to MYR 40.4 billion in May from MYR 0.8 billion in the same month last year. The surplus also increased from MYR 29.2 billion in April. The expected surplus was MYR 23.2 billion.

Exports jumped 45.3 percent year-on-year in May, reaching a record high for a single month. Imports also recorded double-digit growth of 14.1 percent.

Export growth was mainly driven by a 42.0 percent increase in domestic exports and a 22.0 percent surge in re-exports. Imports of capital goods alone grew 18.3 percent, and those of intermediate goods rose by 14.4 percent.