KUALA LUMPUR: Malaysia’s trade surplus is likely to narrow to RM6.4 billion in August, following the 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 ringgit.
The trade performance for August 2018 is expected to be announced next week. - Bernama
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