May Export Boosted By E&E And Palm Oil, Trend Expected To Continue
20/06/2024 (Business Today) - Malaysia’s total trade rose for the 5th straight month at +10.3%yoy in May-24, underpinned by higher exports and imports. The trade surplus also widened to RM10.1b, improving from the post-pandemic low of +RM7.7b in Apr-24 as monthly growth in exports was faster (+11.8%mom) than imports (+10.3%mom). From year-on-year perspective, exports growth was sustained for the second month in a row at +7.3%yoy (Apr-24: +9.1%yoy), stronger than market expectations. Domestic exports expanded further at +13.2%yoy, sustaining growth since Jan-24 and continue to offset the continued contraction in re-exports (-14.1%yoy).
