Malaysia's current account balance upholds surplus of 1.9 bln USD in Q3

Xinhua
17 Nov 2023, 15:14 GMT+10

KUALA LUMPUR, Nov. 17 (Xinhua) -- Malaysia's current account balance (CAB) has upheld a surplus of 9.1 billion ringgit (1.94 billion U.S. dollars) in the third quarter, with surged goods, recovery in inbound travel and increased foreign investments, official data showed Friday.

The surplus has improved 0.3 percent quarter-on-quarter in the third quarter, and equivalent to 2 percent of Malaysia's gross domestic product (GDP), the Department of Statistics Malaysia (DOSM) said in a statement.

"The CAB surplus in the third quarter of 2023 was predominantly driven by higher net exports of goods, followed by lower deficits in services and secondary income accounts," said the DOSM.

Meanwhile, Malaysia's financial account turned around to a net inflow of 14.9 billion ringgit in the third quarter as against a net outflow of 11.6 billion ringgit in the preceding quarter.

In the January-September period, the CAB reached a surplus of 22.5 billion ringgit, while the financial account recorded a net inflow of 1 billion ringgit. (1 ringgit equals 0.21 U.S. dollar)

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