Malaysia's Trade Surplus Likely to Narrow to US$1.54 Billion In August

KUALA LUMPUR, Sept 28 (Bernama) -- Malaysia's trade surplus is likely to narrow to US$1.54 billion (RM6.4 billion) in August, following the US$2 billion (RM8.3 billion) recorded in July, said Moody’s Analytics. It said the technology category had staged a comeback with exports rising by 23.6 per cent year-on-year in July, and a repeat performance in August was unlikely. “Nevertheless, electrical and electronic shipments will still help to absorb ongoing weakness in palm oil shipments, which have been struggling on both volume and value basis,” the financial analysis software and services provider said in its Asia-Pacific Economic Preview for Oct 1-5, 2018. Moody’s Analytics also said palm oil prices had improved in September, which should translate to improved exports, especially given the weaker Malaysian ringgit. The trade performance for August 2018 is expected to be announced next week. -- BERNAMA