KUALA LUMPUR: Malaysia recorded a marginal current account surplus in the second quarter — its smallest in more than 26 years — as the goods account surplus narrowed significantly, according to official data.
The Department of Statistics Malaysia reported on Friday that the current account surplus stood at just RM0.3 billion in the April–June period. The goods account surplus shrank to RM17.0 billion, while the services account deficit eased slightly to RM3.3 billion.
The secondary income account — which covers transfers and payments between residents and non-residents — saw its deficit widen to RM4.6 billion, largely due to reduced receipts from abroad.
On the financial account side, net outflows fell sharply to RM2.2 billion from RM20.3 billion in the previous quarter, mainly driven by interbank transactions with overseas financial institutions.
Foreign direct investment (FDI) registered a modest net inflow of RM1.6 billion, down from RM15.6 billion in the first quarter, as continued equity injections and debt instrument inflows were partly offset by higher repatriation of income to parent companies overseas.
Meanwhile, direct investment abroad recorded a net inflow of RM0.6 billion, reversing a RM3.5 billion net outflow in the prior quarter, amid equity liquidations and debt instrument movements in the manufacturing and services sectors.
