Malaysia’s trade surplus narrowed in January, with trade, exports and imports all falling from the previous month.
Data released by Malaysia’s Ministry of International Trade and Industry on Monday showed a trade surplus of 18.16 billion ringgit ($4.1 billion) in January, a sharp narrowing from 27.76 billion ringgit in December last year and a drop of 2.1 percent from a year earlier. .
”Compared to December 2022, trade, exports, imports and trade surplus decreased by 11.8 percent, 14.4 percent, 8.6 percent and 35.5 percent, respectively, due to shorter working days and longer holidays,” Malaysia’s Ministry of International Trade and Industry said.
Compared with a year earlier, exports rose 1.6 percent to 112.84 billion ringgit in January, while imports rose 2.3 percent to 94.67 billion ringgit, the data showed. But the growth rates were far below market expectations.
In terms of export destinations, exports to China fell 11.9% to 14.98 billion ringgit in January; exports to the United States fell 0.6% to 12.05 billion ringgit.
source: finance.sina