Malaysia's exports declined unexpectedly in July from a year ago, while imports grew more than forecast, data from the Department of Statistics showed Friday.
Exports were down 1.9 percent annually, in contrast to a 3.5 percent rise forecast by economists. Slower economic activities in the People's Republic of China, the Republic of Korea, India and the European Union contributed to lower exports to these markets in July.
On the other hand, reflecting firm domestic investment and spending, imports grew at a faster pace of 9.5 percent from the prior year compared to the consensus forecast of 5.1 percent.
Due to a fall in exports and increase in imports, the trade surplus fell to MYR 3.6 billion in July. The surplus was well below the expected surplus of MYR 9.1 billion.
by RTT Staff Writer
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