Malaysia's Current Account Balance recorded a surplus of RM3.0 billion in Q2 2024, driven by goods and improving services accounts
Malaysia’s Current Account Balance (CAB) recorded a surplus of RM3.0 billion in the second quarter of 2024, mainly supported by net exports of Goods.
Goods account posted net exports of RM24.6 billion. Exports of goods amounted to RM278.1 billion, while imports was RM253.5 billion.
Services account deficit narrowed to RM4.9 billion in this quarter, primarily driven by Travel and Manufacturing services.
Primary Income account recorded a higher deficit of RM15.5 billion, owing to the lower receipts of RM24.1 billion and higher payments of RM39.6 billion.
Secondary Income account posted a deficit of RM1.1 billion with receipts of RM9.9 billion and payments at RM11.1 billion.
Financial account switched to a net inflow of RM17.1 billion in this quarter, mainly propelled by higher inflows of RM35.6 billion in Other investments.
Foreign Direct Investment (FDI) posted a higher net inflow of RM9.1 billion (Q1 2024: RM5.5 billion). Meanwhile, Direct Investment Abroad (DIA) recorded a net outflow of RM5.3 billion (Q1 2024: RM11.5 billion).
As at the end of second quarter 2024, the International reserves stood at RM537.2 billion.
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