Malaysia Trade Surplus Shrinks To MYR 10.1 Bln

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

The trade surplus shrank to MYR 10.1 billion in May from MYR 15.7 billion in the same month last year. However, the surplus grew from MYR 7.7 billion in April on strong monthly exports.

Exports climbed 7.3 percent annually in May amid strong growth in domestic exports, while imports grew at a comparatively faster pace of 13.2 percent. Data showed that re-exports fell sharply by 14.1 percent.

On a seasonally adjusted basis, both exports and imports grew by 23.2 percent and 15.0 percent, respectively, from a month earlier.