RTTNews - Friday, a report by Malaysia's Department of Statistics said the trade surplus stood at MYR 10.02 billion in May, up from MYR 7.36 billion surplus in April. Moreover, this came in higher than economists' expectations of a MYR 8.88 billion surplus.
Exports dropped 29.7% annually in May to MYR42.95 billion, after falling 26.3% in April. Economists expected a drop of 29.2%. Imports slipped 27.8% to MYR32.93 billion compared to a 24.6% decline in the preceding month. Economists expected imports to drop 24.3%.
On a monthly basis, exports grew 4.5%, while imports fell 2.3% in May. Meanwhile, in the first five months of the year, exports decreased 23.5%, while imports were down 27.4% compared to last year.
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