In October, Malaysia experienced a reduction in its foreign trade surplus compared to the previous year, due to imports increasing at a faster pace than exports. This information was released on Tuesday by the statistical office.
The trade surplus declined to MYR 12.0 billion in October, down from MYR 13.0 billion in October of the previous year. It also fell from MYR 12.8 billion reported in September.
Exports saw an annual increase of 1.6 percent in October, primarily driven by a 3.1 percent rise in re-exports. Conversely, domestic exports decreased by 3.5 percent.
The data highlighted a 2.6 percent annual increase in imports, following a more significant rise of 10.9 percent in September.
When adjusted for seasonal variations, exports and imports increased by 5.8 percent and 0.4 percent, respectively, compared to the previous month.
