Malaysia's Current Account Balance upheld a surplus of RM9.1 billion, with surged goods, recovery in inbound Travel and increased foreign investments
Malaysia’s Current Account Balance (CAB) recorded a surplus of RM9.14 billion in the third quarter of 2023, mainly supported by net exports of Goods.
Goods account posted net exports of RM32.7 billion. Exports of goods amounted to RM260.4 billion, while imports was RM227.7 billion.
Services account deficit narrowed from RM11.3 billion to RM10.3 billion in this quarter, primarily driven by Travel, Construction, Charges for the use of intellectual property and Financial components.
Primary Income account recorded a higher deficit of RM11.0 billion, owing to the higher payments of RM34.8 billion, and lower receipts of RM23.9 billion as compared to the preceding quarter.
Secondary Income account posted a lower deficit of RM2.2 billion with receipts of RM7.0 billion and payments at RM9.2 billion.
Financial account turned around from a net outflow of RM11.6 billion in the previous quarter to a net inflow of RM14.9 billion in the third quarter of 2023, mainly attributed to a net inflow in Other investment at RM34.6 billion.
Foreign Direct Investment (FDI) registered a higher net inflow of RM7.2 billion (Q2 2023: RM3.1 billion), while Direct Investment Abroad (DIA) registered a higher net outflow of RM13.4 billion (Q2 2023: RM8.0 billion).
As at the end of third quarter 2023, the International reserves stood at RM517.1 billion.
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