- The Straits Times
Malaysia’s balance of payments recorded a higher surplus of RM15 billion ($3.7 billion) in the current account for the first quarter of 2018, compared with RM13.9 billion in the fourth quarter of the previous year, said Malaysia’s Department of Statistics.
According to a statement by the department, the improved performance of the current account balance was attributed to the goods account with the value of exports at RM237.6 billion in the first quarter of this year, a growth of 5.8% on a year-on-year basis.
Electrical and electronic goods were identified as the main products which contributed to the increase, taking up the greatest share in total exports at 37.1%, having risen by 1.8% to RM88.1 billion. This is followed by crude petroleum which expanded by 8.0% to RM8.5 billion.
Imports decreased 0.8% to RM204.3 billion year-on-year, compared to its 14.4% growth in the preceding year. Consumption goods recorded an increase whereas intermediate and capital goods both saw a decrease.
Meanwhile, Malaysia’s financial account recorded a net inflow of RM15.2 billion, up from RM6 billion in the last quarter, which the department said was due to a higher net inflow of direct investment at RM10.7 billion and other investments at RM 6.4 billion.
Direct investment abroad registered a turnabout to net outflow of RM1.3 billion in this quarter against a net inflow of RM1.9 billion in the previous quarter.
Within the same period, foreign direct investment recorded an increase in net inflow from RM3.4 billion to RM12 billion.