Malaysia’s Current Account Balance continued to record a surplus with a value of RM4.3 billion in 1Q 2023, despite lower net exports of goods
Malaysia’s Current Account Balance (CAB) continued to record a surplus of RM4.3 billion in the first quarter of 2023, mainly supported by net exports of Goods.
Goods account recorded net exports of RM39.9 billion (Q4 2022: RM57.7 billion). Exports of goods recorded RM261.5 billion while imports was RM221.6 billion.
Services account posted a higher deficit of RM12.8 billion compared to RM12.1 billion in the previous quarter mainly owing to lower surplus in Travel and a deficit in Construction.
Primary Income account recorded a higher deficit of RM16.9 billion compared to RM11.6 billion in the preceding quarter. This was mainly due to the lower receipts of RM16.7 billion, particularly from Direct investment, while payments amounted to RM33.6 billion.
Secondary Income account posted a lower deficit of RM5.9 billion as opposed to a RM6.5 billion last quarter. This account posted higher receipts of RM10.2 billion, while payments increased to RM16.0 billion.
Financial account registered a net outflow of RM2.4 billion as compared to RM1.1 billion in the preceding quarter, mainly attributed to higher net outflows in Portfolio investment at RM33.3 billion and lower net inflows in Other investment at RM20.9 billion.
Foreign Direct Investment (FDI) recorded a lower net inflow of RM12.0 billion as compared to RM19.2 billion in the preceding quarter. Meanwhile, Direct Investment Abroad (DIA) logged a lower net outflow of RM1.1 billion (Q4 2022: RM28.5 billion).
As at the end of first quarter 2023, the international reserves stood at RM509.8 billion.
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