Malaysia reached RM22.8 billion current account surplus in 2023, with lower surplus of RM253.4 million in Q4 2023
Malaysia’s Current Account Balance (CAB) recorded a surplus of RM253.4 million in the fourth quarter of 2023, mainly due to wider deficit in Primary income account.
Goods account posted net exports of RM30.8 billion. Exports of goods amounted to RM275.9 billion, while imports was RM245.1 billion.
Services account deficit narrowed to RM7.4 billion in this quarter, supported by Travel and Construction.
Primary Income account recorded a higher deficit of RM20.9 billion, owing to the higher payments of RM41.1 billion, and lower receipts of RM20.3 billion as compared to the preceding quarter.
Secondary Income account posted a deficit of RM2.3 billion with receipts of RM8.1 billion and payments at RM10.4 billion.
Financial account turned around from a net inflow of RM14.9 billion in the previous quarter to a net outflow of RM19.9 billion in the fourth quarter of 2023. This was due to outflows in Other investment, Portfolio investment and Financial derivatives at RM14.4 billion, RM6.4 billion and RM3.8 billion, respectively.
Foreign Direct Investment (FDI) registered a higher net inflow of RM17.1 billion (Q3 2023: RM7.2 billion). Meanwhile, Direct Investment Abroad (DIA) registered a lower net outflow of RM12.4 billion (Q3 2023: RM13.4 billion).
As at the end of fourth quarter 2023, the International reserves stood at RM520.7 billion.
The surplus in the CAB for 2023 recorded RM22.8 billion, while Financial account posted a net outflow of RM18.9 billion. FDI recorded a net inflow of RM39.5 billion while DIA posted a net outflow of RM34.9 billion.
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