Malaysia's Trade Surplus Grows Slightly To MYR 26.69 Bln

(RTTNews) - The Malaysian trade surplus increased slightly in March as imports fell faster than exports, data from the statistical office showed on Wednesday.

The trade surplus rose to MYR 26.69 billion in March from MYR 26.65 billion in the same month last year. In February, the trade surplus was MYR 19.57 billion.

Further, the trade balance remained in surplus for the thirty-fifth consecutive month in March, the agency said.

Exports dropped 1.4 percent yearly in March, reversing a 9.8 percent strong gain in the previous month.

The decline in shipments was mainly driven by lower domestic exports, which fell 4.1 percent from last year. On the other hand, re-exports showed a sharp growth of 10.5 percent.

Imports fell at a comparatively faster pace of 1.8 percent annually in March, reversing a 2.2 percent growth in the previous month.

On a seasonally adjusted basis, both exports and imports fell by 4.2 percent and 3.4 percent, respectively, from a month earlier.

During the first quarter, the total trade surplus of the country was MYR 64.39 billion versus MYR 59.1 billion in the corresponding period last year. Exports climbed 2.8 percent and imports grew 3.7 percent on an annual basis.