Malaysia's Current Account Surplus reached RM9.1 billion or 2.1% of GDP, fueled by net exports of goods
Malaysia’s Current Account Balance (CAB) recorded a surplus of RM9.1 billion in the second quarter of 2023, mainly supported by net exports of Goods.
Goods account posted net exports of RM29.5 billion. Exports of goods amounted to RM254.9 billion, while imports was RM225.4 billion.
Services account deficit narrowed from RM12.8 billion to RM11.3 billion in the second quarter, primarily driven by higher surplus in Travel and lower deficit in Construction.
Primary Income account recorded a smaller deficit of RM6.3 billion, owing to the higher receipts of RM24.8 billion, and lower payments of RM31.1 billion as compared to the preceding quarter.
Secondary Income account posted a deficit of RM2.8 billion with receipts of RM6.7 billion and payments at RM9.5 billion.
Financial account recorded a net outflow of RM11.6 billion as compared to RM2.4 billion in the previous quarter, mainly attributed to net outflow in Other investment at RM15.1 billion and Direct investment at RM4.9 billion.
Foreign Direct Investment (FDI) recorded a lower net inflow of RM3.1 billion as compared to RM12.0 billion in the preceding quarter. Meanwhile, Direct Investment Abroad (DIA) registered a higher net outflow of RM8.0 billion (Q1 2023: RM1.1 billion).
As at the end of second quarter 2023, the international reserves stood at RM522.0 billion.
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