KUALA LUMPUR, May 12 (NNN-Bernama) — Malaysia\u2019s current account balance (CAB) continued to record a surplus of RM4.3 billion (US$961 mln) or 1.0 per cent of the\u00a0gross domestic product (GDP) in the\u00a0first quarter of 2023 (1Q 2023), down from RM27.5 billion (US$6.15 billion) (5.9 per cent of GDP) in the previous quarter.<\/p>\n\n\n\n
Department of Statistics Malaysia (DOSM) chief statistician Dr Mohd Uzir Mahidin said the CAB surplus this quarter was mainly supported by net exports of goods. <\/p>\n\n\n\n
“The Goods account recorded a net export of RM39.9 billion (US$1 = RM4.475) in the 1Q 2023, which shrank 30.9 per cent quarter-on-quarter.<\/p>\n\n\n\n
\u201cExports of goods amounted to RM261.5 billion, a decrease of 17.6 per cent as against the final quarter of 2022,” he said in a statement Friday. <\/p>\n\n\n\n
Mohd Uzir shared the main exports were electrical and electronics (E&E) and petroleum and chemicals products, especially to Singapore, China and the United States (US). <\/p>\n\n\n\n
At the same time, imports of goods fell by 14.6 per cent quarter-on-quarter to RM221.6 billion. Malaysia\u2019s major imports were Intermediate, Capital and Consumption goods particularly from China, Singapore and Taiwan.<\/p>\n\n\n\n
\u201cThe Services account posted a higher deficit of RM12.8 billion in 1Q 2023, as Travel witnessed a lower surplus and Construction turned around from a surplus to record a deficit. <\/p>\n\n\n\n
“Exports of services were valued at RM41.0 billion as compared to RM43.8 billion in the previous quarter,” he added.<\/p>\n\n\n\n
Meanwhile, the financial account registered a net outflow of RM2.4 billion as compared to RM1.1 billion in the preceding quarter.<\/p>\n\n\n\n
“This was mainly led by outflows in Portfolio investment at RM33.3 billion and Financial derivatives at RM0.9 billion.<\/p>\n\n\n\n
“Other investment registered a lower net inflow of RM20.9 billion as compared to RM36.6 billion in the previous quarter, while Direct Investment turned around to record a net inflow of RM10.9 billion from a net outflow RM9.3 billion in the final quarter of last year,\u201d explained Mohd Uzir.<\/p>\n\n\n\n
Direct Investment Abroad (DIA) logged a net outflow of RM1.1 billion as compared to RM28.5 billion in the fourth quarter of 2022.<\/p>\n\n\n\n
The major contributors to the outflow were services particularly in electricity, followed by manufacturing and agriculture sectors. The top three DIA destinations were Singapore, the US and Vietnam.<\/p>\n\n\n\n
\u201cIn the meantime, a lower net inflow of RM12.0 billion was recorded in Foreign Direct Investment (FDI) as compared to RM19.2 billion in the preceding quarter.<\/p>\n\n\n\n
Services was the largest sector in FDI predominantly in Financial activities, followed by Mining & Quarrying and Manufacturing sectors. <\/p>\n\n\n\n
“The main FDI sources were from Mauritius, Switzerland and Hong Kong,\u201d he said.<\/p>\n\n\n\n
Pertaining to the accumulated investment, Mohd Uzir said, \u201cAs at the end of 1Q 2023, the FDI position posted RM893.2 billion while DIA position was at RM617.0 billion. <\/p>\n\n\n\n
“Malaysia\u2019s International Investment Position registered a net asset of RM84.5 billion, while Malaysia\u2019s international reserves stood at RM509.8 billion,\u201d he added.<\/p>\n\n\n\n
— NNN-BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"
KUALA LUMPUR, May 12 (NNN-Bernama) — Malaysia\u2019s current account balance (CAB) continued to record a surplus of RM4.3 billion (US$961 mln) or 1.0 per cent of the\u00a0gross domestic product (GDP) in the\u00a0first quarter of 2023 (1Q 2023), down from RM27.5 billion (US$6.15 billion) (5.9 per cent of GDP) in the previous quarter. Department of Statistics […]<\/p>\n","protected":false},"author":30,"featured_media":142360,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[215,288,300,318],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/221011"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=221011"}],"version-history":[{"count":1,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/221011\/revisions"}],"predecessor-version":[{"id":221012,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/221011\/revisions\/221012"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/142360"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=221011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=221011"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=221011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}