Trade numbers take a dive in April

Malaysia’s total trade for April 2023 contracted 14.5% y-o-y to RM198bil, and trade surplus declined 45.3% y-o-y to RM12.85bil. — Reuters

PETALING JAYA: Malaysia’s exports shrank at an accelerated pace last month amid softer global demand due to the heightened economic uncertainty worldwide.

According to the Statistics Department, the country’s shipments declined 17.4% year-on-year (y-o-y) to RM105.4bil in April 2023, as compared to a decline of only 1.4% y-o-y in March 2023.